Former state school employee Ganson paid in $213K to teachers' pension fund, could collect $4.74M in retirement

By Rock Island Today Reports

Aug 1, 2017

Former state school employee Kyle Ganson, who retired in July 2017, saved $213,270 toward a pension over 35 years working for public schools, Teachers' Retirement System of the State of Illinois records show.

Over 30 years of retirement, Ganson would collect as much as $4.74 million, according to a projection by Local Government Information Services (LGIS), which publishes Rock Island Today.

The projection assumes Ganson received $99,609 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Ganson will have already received $307,881 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

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Colona School District 190 Board

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