Lake County Gazette

Lake County Gazette

Tuesday, November 19, 2019

Beach Park CCSD 3 Longacre paid in $44K to teachers pension fund, could collect $3.4 million in retirement

Schools

By Local Labs News Service | Oct 17, 2018

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Retired Beach Park CCSD 3 employee Elizabeth Longacre saved $44,010 toward her pension over 15 years working for public schools, Illinois Teachers' Retirement Fund (TRS) records show.

Over 55 years of retirement, Longacre would collect as much as $3.371 million, according to a projection by Local Government Information Services (LGIS), which publishes Lake County Gazette.

Longacre, 40, who currently lives in Wadsworth earned $45,408 in her final year at Beach Park CCSD 3.

The projection assumes Longacre will receive 53 percent of that total - $24,059 - in her first year of retirement, then 3 percent annual increases thereafter, compounded.

After three years of retirement, Longacre will have already received $74,363 in retirement benefits, or more than the sum total of her contributions to the state teachers' pension fund.

According to the Illinois State Board of Education (ISBE), 15.6 percent of Beach Park CCSD 3 students met or exceeded the standards for the "PARCC" exams.

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Organizations in this Story

Beach Park Community Consolidated School District 3

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