Former state school employee Strand paid in $164K to teachers' pension fund, could collect $4.05M in retirement

By Rock Island Today Reports

Jul 1, 2016

Former state school employee Douglas Strand, who retired in June 2016, saved $163,787 toward a pension over 42 years working for public schools, Teachers' Retirement System of the State of Illinois records show.

Over 30 years of retirement, Strand would collect as much as $4.05 million, according to a projection by Local Government Information Services (LGIS), which publishes Rock Island Today.

The projection assumes Strand received $85,104 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 2 years of retirement, Strand will have already received $172,761 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

ORGANIZATIONS IN THIS STORY

United Township High School District 30 Board

!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