Former state school employee Jordan paid in $322K to teachers' pension fund, could collect $7.99M in retirement

By Local Labs News Service

Jul 1, 2018

Former state school employee Jerry Jordan, who retired in June 2018, saved $322,291 toward a pension over 43 years working for public schools, Teachers' Retirement System of the State of Illinois records show.

Over 30 years of retirement, Jordan would collect as much as $7.99 million, according to a projection by Local Government Information Services (LGIS), which publishes South Cook News.

The projection assumes Jordan received $167,949 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 2 years of retirement, Jordan will have already received $340,936 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

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South Holland School District 150 Board

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