Former state school employee Jarand paid in $48K to teachers' pension fund, could collect $702K in retirement

By Local Labs News Service

Nov 1, 2018

Former state school employee Marjorie Jarand, who retired in October 2018, saved $47,974 toward a pension over 10 years working for public schools, Teachers' Retirement System of the State of Illinois records show.

Over 30 years of retirement, Jarand would collect as much as $701,744, according to a projection by Local Government Information Services (LGIS), which publishes McLean County Times.

The projection assumes Jarand received $14,750 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 4 years of retirement, Jarand will have already received $61,710 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

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Olympia Community Unit School District 16

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