Will County Gazette

Will County Gazette

Thursday, December 5, 2019

Former state school employee Price paid in $148K to teachers' pension fund, could collect $2.14M in retirement

Schools

By Local Labs News Service | Sep 1, 2018

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Former state school employee Lynn Price, who retired in August 2018, saved $148,426 toward a pension over 25 years working for public schools, Teachers' Retirement System of the State of Illinois records show.

Over 30 years of retirement, Price would collect as much as $2.14 million, according to a projection by Local Government Information Services (LGIS), which publishes Will County Gazette.

The projection assumes Price received $45,059 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 4 years of retirement, Price will have already received $188,510 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

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Joliet Township High School District 204

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