Former state school employee Loveland paid in $12K to teachers' pension fund, could collect $415K in retirement

By Local Labs News Service

Jul 1, 2018

Former state school employee Susan Loveland, who retired in June 2018, saved $11,702 toward a pension over 5 years working for public schools, Teachers' Retirement System of the State of Illinois records show.

Over 30 years of retirement, Loveland would collect as much as $414,699, according to a projection by Local Government Information Services (LGIS), which publishes North Cook News.

The projection assumes Loveland received $8,716 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 2 years of retirement, Loveland will have already received $17,693 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

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Sunset Ridge School District 29 Board

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