Former state school employee Drone paid in $119K to teachers' pension fund, could collect $2.34M in retirement

By Local Labs News Service

Jul 1, 2016

Former state school employee Nancy Drone, who retired in June 2016, saved $118,867 toward a pension over 31 years working for public schools, Teachers' Retirement System of the State of Illinois records show.

Over 30 years of retirement, Drone would collect as much as $2.34 million, according to a projection by Local Government Information Services (LGIS), which publishes SE Illinois News.

The projection assumes Drone received $49,147 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Drone will have already received $151,908 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

ORGANIZATIONS IN THIS STORY

Harrisburg Community Unit School District 3

!RECEIVE ALERTS

The next time we write about any of these orgs, we’ll email you a link to the story. You may edit your settings or unsubscribe at any time.

Sign-up

DONATE

Help support the Metric Media Foundation's mission to restore community based news.

Donate