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McLean County Times

Tuesday, November 26, 2024

Former state school employee Friedrich paid in $130K to teachers' pension fund, could collect $2.92M in retirement

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Former state school employee Nancy Friedrich, who retired in May 2016, saved $129,995 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, Friedrich would collect as much as $2.92 million, according to a projection by Local Government Information Services (LGIS), which publishes McLean County Times.

The projection assumes Friedrich received $61,472 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Friedrich will have already received $190,003 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

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