Former state school employee Nagy paid in $53K to teachers' pension fund, could collect $778K in retirement

By Local Labs News Service

Jul 1, 2016

Former state school employee Valorie Nagy, who retired in June 2016, saved $52,551 toward a pension over 11 years working for public schools, Teachers' Retirement System of the State of Illinois records show.

Over 30 years of retirement, Nagy would collect as much as $777,858, according to a projection by Local Government Information Services (LGIS), which publishes Will County Gazette.

The projection assumes Nagy received $16,350 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 4 years of retirement, Nagy will have already received $68,403 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

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Valley View School District 365

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