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North Egypt News

Wednesday, January 22, 2020

Former state school employee Shurtz paid in $28K to teachers' pension fund, could collect $1.05M in retirement


By Local Labs News Service | May 1, 2018

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Former state school employee Lori Shurtz, who retired in April 2018, saved $27,731 toward a pension over 9 years working for public schools, Teachers' Retirement System of the State of Illinois records show.

Over 30 years of retirement, Shurtz would collect as much as $1.05 million, according to a projection by Local Government Information Services (LGIS), which publishes North Egypt News.

The projection assumes Shurtz received $22,167 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 2 years of retirement, Shurtz will have already received $44,999 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

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Illinois State Board of Education

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