Former state school employee Allen Verdun paid in $62K to teachers' pension fund, could collect $965K in retirement

By Local Labs News Service

Nov 1, 2016

Former state school employee Mary Allen Verdun, who retired in October 2016, saved $61,614 toward a pension over 13 years working for public schools, Teachers' Retirement System of the State of Illinois records show.

Over 30 years of retirement, Allen Verdun would collect as much as $965,343, according to a projection by Local Government Information Services (LGIS), which publishes NW Illinois News.

The projection assumes Allen Verdun received $20,290 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Allen Verdun will have already received $62,715 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

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Oregon Community Unit School District 220

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