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South Central Reporter

Saturday, November 23, 2024

Former state school employee Jansen paid in $19K to teachers' pension fund, could collect $568K in retirement

Money 05

Former state school employee Lori Jansen, who retired in May 2016, saved $19,040 toward a pension over 18 years working for public schools, Teachers' Retirement System of the State of Illinois records show.

Over 30 years of retirement, Jansen would collect as much as $567,502, according to a projection by Local Government Information Services (LGIS), which publishes South Central Reporter.

The projection assumes Jansen received $11,928 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 2 years of retirement, Jansen will have already received $24,214 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

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