Former state school employee Lane paid in $32K to teachers' pension fund, could collect $1.25M in retirement

By Local Labs News Service

May 1, 2018

Former state school employee Amy Lane, who retired in April 2018, saved $31,727 toward a pension over 16 years working for public schools, Teachers' Retirement System of the State of Illinois records show.

Over 30 years of retirement, Lane would collect as much as $1.25 million, according to a projection by Local Government Information Services (LGIS), which publishes Sangamon Sun.

The projection assumes Lane received $26,194 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 2 years of retirement, Lane will have already received $53,174 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

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Eureka Community Unit District 140

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