Former state school employee Lendman paid in $23K to teachers' pension fund, could collect $378K in retirement

By Local Labs News Service

Mar 1, 2016

Former state school employee Christy Lendman, who retired in February 2016, saved $23,259 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, Lendman would collect as much as $378,424, according to a projection by Local Government Information Services (LGIS), which publishes Rockford Sun.

The projection assumes Lendman received $7,954 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Lendman will have already received $24,586 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

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