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DeKalb Times

Thursday, November 21, 2024

Former state school employee Prichard paid in $12K to teachers' pension fund, could collect $835K in retirement

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Former state school employee Nancy Prichard, who retired in August 2017, saved $11,952 toward a pension over 12 years working for public schools, Teachers' Retirement System of the State of Illinois records show.

Over 30 years of retirement, Prichard would collect as much as $835,154, according to a projection by Local Government Information Services (LGIS), which publishes DeKalb Times.

The projection assumes Prichard received $17,554 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 1 years of retirement, Prichard will have already received $17,554 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

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