Former state school employee Nickel paid in $101K to teachers' pension fund, could collect $2.11M in retirement

By Local Labs News Service

Jun 1, 2017

Former state school employee Julia Nickel, who retired in May 2017, saved $100,606 toward a pension over 21 years working for public schools, Teachers' Retirement System of the State of Illinois records show.

Over 30 years of retirement, Nickel would collect as much as $2.11 million, according to a projection by Local Government Information Services (LGIS), which publishes Illinois Valley Times.

The projection assumes Nickel received $44,279 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Nickel will have already received $136,861 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

ORGANIZATIONS IN THIS STORY

Minooka Community High School District 111 Board

!RECEIVE ALERTS

The next time we write about any of these orgs, we’ll email you a link to the story. You may edit your settings or unsubscribe at any time.

Sign-up

DONATE

Help support the Metric Media Foundation's mission to restore community based news.

Donate