Quantcast

McLean County Times

Saturday, November 23, 2024

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

Shutterstock 434242897

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 McLean County Times.

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.

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