Quantcast

North Egypt News

Friday, November 8, 2024

Former state school employee Van Horn paid in $145K to teachers' pension fund, could collect $3.44M in retirement

Shutterstock 369740408

Former state school employee Lori Van Horn, who retired in May 2018, saved $145,364 toward a pension over 35 years working for public schools, Teachers' Retirement System of the State of Illinois records show.

Over 30 years of retirement, Van Horn would collect as much as $3.44 million, according to a projection by Local Government Information Services (LGIS), which publishes North Egypt News.

The projection assumes Van Horn received $72,264 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 2 years of retirement, Van Horn will have already received $146,696 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

ORGANIZATIONS IN THIS STORY

!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

MORE NEWS