Former state school employee Nelson paid in $171K to teachers' pension fund, could collect $3.63M in retirement

By Rock Island Today Reports

Jul 1, 2017

Former state school employee Suzanne Nelson, who retired in June 2017, saved $171,372 toward a pension over 31 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 $3.63 million, according to a projection by Local Government Information Services (LGIS), which publishes Rock Island Today.

The projection assumes Nelson received $76,251 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Nelson will have already received $235,685 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 Community Unit School District 40

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