Former state school employee Lyon paid in $91K to teachers' pension fund, could collect $1.79M in retirement

By Local Labs News Service

Nov 1, 2016

Former state school employee Nancy Lyon, who retired in October 2016, saved $90,946 toward a pension over 30 years working for public schools, Teachers' Retirement System of the State of Illinois records show.

Over 30 years of retirement, Lyon would collect as much as $1.79 million, according to a projection by Local Government Information Services (LGIS), which publishes NW Illinois News.

The projection assumes Lyon received $37,712 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Lyon will have already received $116,563 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

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Rochelle Community Consolidated District 231 Board

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