North Egypt News

North Egypt News

Monday, October 21, 2019

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

Schools

By Local Labs News Service | May 1, 2018


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.

Want to get notified whenever we write about Illinois State Board of Education ?

Sign-up Next time we write about Illinois State Board of Education, we'll email you a link to the story. You may edit your settings or unsubscribe at any time.

Organizations in this Story

Illinois State Board of Education

More News