Former state school employee Nesemeier paid in $92K to teachers' pension fund, could collect $1.98M in retirement

By Local Labs News Service

Jul 1, 2017

Former state school employee Jan Nesemeier, who retired in June 2017, saved $91,924 toward a pension over 27 years working for public schools, Teachers' Retirement System of the State of Illinois records show.

Over 30 years of retirement, Nesemeier would collect as much as $1.98 million, according to a projection by Local Government Information Services (LGIS), which publishes NW Illinois News.

The projection assumes Nesemeier received $41,548 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Nesemeier will have already received $128,420 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

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