Rock Island Today

Rock Island Today

Friday, October 18, 2019

Former state school employee Wolber paid in $136K to teachers' pension fund, could collect $2.56M in retirement


By Rock Island Today Reports | Jul 1, 2018

Former state school employee Nancy Wolber, who retired in June 2018, saved $135,598 toward a pension over 26 years working for public schools, Teachers' Retirement System of the State of Illinois records show.

Over 30 years of retirement, Wolber would collect as much as $2.56 million, according to a projection by Local Government Information Services (LGIS), which publishes Rock Island Today.

The projection assumes Wolber received $53,743 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Wolber will have already received $166,114 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

Want to get notified whenever we write about Rock Island School District 41 ?

Sign-up Next time we write about Rock Island School District 41, we'll email you a link to the story. You may edit your settings or unsubscribe at any time.

Organizations in this Story

Rock Island School District 41

More News