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Kane County Reporter

Tuesday, November 26, 2024

Former state school employee Kroll paid in $175K to teachers' pension fund, could collect $4.55M in retirement

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Former state school employee Nancy Kroll, who retired in May 2016, saved $174,705 toward a pension over 37 years working for public schools, Teachers' Retirement System of the State of Illinois records show.

Over 30 years of retirement, Kroll would collect as much as $4.55 million, according to a projection by Local Government Information Services (LGIS), which publishes Kane County Reporter.

The projection assumes Kroll received $95,616 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 2 years of retirement, Kroll will have already received $194,100 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

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