Former state school employee Marlen paid in $79K to teachers' pension fund, could collect $1.26M in retirement

By Local Labs News Service

Jun 1, 2016

Former state school employee Nancy Marlen, who retired in May 2016, saved $78,680 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, Marlen would collect as much as $1.26 million, according to a projection by Local Government Information Services (LGIS), which publishes Metro East Sun.

The projection assumes Marlen received $26,557 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Marlen will have already received $82,086 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

ORGANIZATIONS IN THIS STORY

Dupo Community Unit School District 196

!RECEIVE ALERTS

The next time we write about any of these orgs, we’ll email you a link to the story. You may edit your settings or unsubscribe at any time.

Sign-up

DONATE

Help support the Metric Media Foundation's mission to restore community based news.

Donate