Former state school employee Lenard paid in $11K to teachers' pension fund, could collect $448K in retirement

By Local Labs News Service

Apr 1, 2018

Former state school employee Georgia Lenard, who retired in March 2018, saved $10,943 toward a pension over 6 years working for public schools, Teachers' Retirement System of the State of Illinois records show.

Over 30 years of retirement, Lenard would collect as much as $448,006, according to a projection by Local Government Information Services (LGIS), which publishes Kankakee Times.

The projection assumes Lenard received $9,416 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 2 years of retirement, Lenard will have already received $19,114 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

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Kankakee Area Special Education Cooperative

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