Former state school employee Clancy paid in $98K to teachers' pension fund, could collect $2.7M in retirement

By Rock Island Today Reports

Jun 1, 2016

Former state school employee Lori Clancy, who retired in May 2016, saved $97,988 toward a pension over 29 years working for public schools, Teachers' Retirement System of the State of Illinois records show.

Over 30 years of retirement, Clancy would collect as much as $2.7 million, according to a projection by Local Government Information Services (LGIS), which publishes Rock Island Today.

The projection assumes Clancy received $56,735 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 2 years of retirement, Clancy will have already received $115,172 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

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Moline-Coal Valley School District 40

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