Former state school employee Nitcher paid in $129K to teachers' pension fund, could collect $2.06M in retirement

By South West Illinois News Reports

Jun 1, 2018

Former state school employee Janet Nitcher, who retired in May 2018, saved $129,009 toward a pension over 24 years working for public schools, Teachers' Retirement System of the State of Illinois records show.

Over 30 years of retirement, Nitcher would collect as much as $2.06 million, according to a projection by Local Government Information Services (LGIS), which publishes SW Illinois News.

The projection assumes Nitcher received $43,292 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Nitcher will have already received $133,812 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

ORGANIZATIONS IN THIS STORY

Waterloo Community Unit School District 5 Board

!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