Former state school employee Nease paid in $27K to teachers' pension fund, could collect $750K in retirement

By Local Labs News Service

Dec 1, 2016

Former state school employee Romaine Nease, who retired in November 2016, saved $26,899 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, Nease would collect as much as $750,214, according to a projection by Local Government Information Services (LGIS), which publishes North Cook News.

The projection assumes Nease received $15,768 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 2 years of retirement, Nease will have already received $32,009 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

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Palatine Community Consolidated School District 15 Board

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