Former state school employee Loftus paid in $76K to teachers' pension fund, could collect $875K in retirement

By Local Labs News Service

Jun 1, 2018

Former state school employee Jill Loftus, who retired in May 2018, saved $76,305 toward a pension over 18 years working for public schools, Teachers' Retirement System of the State of Illinois records show.

Over 30 years of retirement, Loftus would collect as much as $875,437, according to a projection by Local Government Information Services (LGIS), which publishes Kendall County Times.

The projection assumes Loftus received $18,401 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 4 years of retirement, Loftus will have already received $76,984 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

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Oswego Community Unit School District 308

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