Former state school employee Vanriper paid in $156K to teachers' pension fund, could collect $2.25M in retirement

By South West Illinois News Reports

Jun 1, 2016

Former state school employee Janice Vanriper, who retired in May 2016, saved $156,350 toward a pension over 29 years working for public schools, Teachers' Retirement System of the State of Illinois records show.

Over 30 years of retirement, Vanriper would collect as much as $2.25 million, according to a projection by Local Government Information Services (LGIS), which publishes SW Illinois News.

The projection assumes Vanriper received $47,347 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 4 years of retirement, Vanriper will have already received $198,081 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

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Columbia Community Unit School District 4 Board

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