Former state school employee Shearer paid in $85K to teachers' pension fund, could collect $1.43M in retirement

By Local Labs News Service

Jun 1, 2016

Former state school employee Nancy Shearer, who retired in May 2016, saved $85,493 toward a pension over 27 years working for public schools, Teachers' Retirement System of the State of Illinois records show.

Over 30 years of retirement, Shearer would collect as much as $1.43 million, according to a projection by Local Government Information Services (LGIS), which publishes Southern Illinois News.

The projection assumes Shearer received $29,962 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Shearer will have already received $92,610 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

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Century Community Unit School District 100

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