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West Central Reporter

Friday, April 19, 2024

Former state school employee Akers paid in $169K to teachers' pension fund, could collect $3.11M in retirement

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Former state school employee Nancy Akers, who retired in July 2017, saved $169,220 toward a pension over 34 years working for public schools, Teachers' Retirement System of the State of Illinois records show.

Over 30 years of retirement, Akers would collect as much as $3.11 million, according to a projection by Local Government Information Services (LGIS), which publishes West Central Reporter.

The projection assumes Akers received $65,448 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Akers will have already received $202,292 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

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