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West Central Reporter

Friday, December 27, 2024

Former state school employee Jahn paid in $26K to teachers' pension fund, could collect $910K in retirement

Money 04

Former state school employee Kent Jahn, who retired in September 2017, saved $26,492 toward a pension over 15 years working for public schools, Teachers' Retirement System of the State of Illinois records show.

Over 30 years of retirement, Jahn would collect as much as $910,193, according to a projection by Local Government Information Services (LGIS), which publishes West Central Reporter.

The projection assumes Jahn received $19,131 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 2 years of retirement, Jahn will have already received $38,836 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

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