Sangamon Sun

Sangamon Sun

Friday, December 13, 2019

Former state school employee Nelson paid in $157K to teachers' pension fund, could collect $3.4M in retirement

Schools

By Local Labs News Service | Jul 1, 2018

Money 06

Former state school employee Robert Nelson, who retired in June 2018, saved $156,868 toward a pension over 39 years working for public schools, Teachers' Retirement System of the State of Illinois records show.

Over 30 years of retirement, Nelson would collect as much as $3.4 million, according to a projection by Local Government Information Services (LGIS), which publishes Sangamon Sun.

The projection assumes Nelson received $71,402 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Nelson will have already received $220,696 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

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Forrestville Valley Community Unit School District 221

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