Former state school employee Meister paid in $90K to teachers' pension fund, could collect $1.11M in retirement

By Local Labs News Service

Jun 1, 2017

Former state school employee Nancy Meister, who retired in May 2017, saved $89,694 toward a pension over 20 years working for public schools, Teachers' Retirement System of the State of Illinois records show.

Over 30 years of retirement, Meister would collect as much as $1.11 million, according to a projection by Local Government Information Services (LGIS), which publishes McHenry Times.

The projection assumes Meister received $23,394 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 4 years of retirement, Meister will have already received $97,873 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

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Community Unit School District 300 Board

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