J S Morton HSD 201 Conger paid in $48K to teachers pension fund, could collect $900K in retirement
Retired J S Morton HSD 201 employee Nathan Conger saved $47,806 toward his pension over 12 years working for public schools, Illinois Teachers' Retirement Fund (TRS) records show.
Over 35 years of retirement, Conger would collect as much as $938,000, according to a projection by Local Government Information Services (LGIS), which publishes West Cook News.
Conger, 60, who currently lives in Downers Grove, earned $61,868 in his final year at J S Morton HSD 201.
The projection assumes Conger will receive 23.5 percent of that total - $14,540 - in his first year of retirement, then 3 percent annual increases thereafter, compounded.
After three years of retirement, Conger will have already received $44,940 in retirement benefits, or more than the sum total of his contributions to the state teachers' pension fund.
ISBE reported that 26.8 percent of J S Morton HSD 201 graduates were deemed "college ready" last year.