Former state school employee Van Fleet paid in $37K to teachers' pension fund, could collect $692K in retirement

By Local Labs News Service

Mar 1, 2017

Former state school employee Lori Van Fleet, who retired in February 2017, saved $37,066 toward a pension over 13 years working for public schools, Teachers' Retirement System of the State of Illinois records show.

Over 30 years of retirement, Van Fleet would collect as much as $691,828, according to a projection by Local Government Information Services (LGIS), which publishes Will County Gazette.

The projection assumes Van Fleet received $14,541 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Van Fleet will have already received $44,944 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

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Manhattan School District 114

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