Former state school employee Licko paid in $119K to teachers' pension fund, could collect $2.62M in retirement

By Rock Island Today Reports

Jul 1, 2017

Former state school employee Nancy Licko, who retired in June 2017, saved $118,747 toward a pension over 27 years working for public schools, Teachers' Retirement System of the State of Illinois records show.

Over 30 years of retirement, Licko would collect as much as $2.62 million, according to a projection by Local Government Information Services (LGIS), which publishes Rock Island Today.

The projection assumes Licko received $54,970 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Licko will have already received $169,907 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

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United Township High School District 30 Board

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