Quantcast

Rock Island Today

Saturday, April 26, 2025

Former state school employee Nelson paid in $109K to teachers' pension fund, could collect $1.69M in retirement

Money 06

Former state school employee Mary Nelson, who retired in June 2016, saved $108,693 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, Nelson would collect as much as $1.69 million, according to a projection by Local Government Information Services (LGIS), which publishes Rock Island Today.

The projection assumes Nelson received $35,553 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Nelson will have already received $109,892 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

ORGANIZATIONS IN THIS STORY

!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

MORE NEWS