Former state school employee Stage paid in $195K to teachers' pension fund, could collect $3.18M in retirement

By Local Labs News Service

Jun 1, 2016

Former state school employee Laurie Stage, who retired in May 2016, saved $194,538 toward a pension over 32 years working for public schools, Teachers' Retirement System of the State of Illinois records show.

Over 30 years of retirement, Stage would collect as much as $3.18 million, according to a projection by Local Government Information Services (LGIS), which publishes North Cook News.

The projection assumes Stage received $66,933 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Stage will have already received $206,883 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

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Elgin Area School District U46

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