Former state school employee Adams paid in $16K to teachers' pension fund, could collect $690K in retirement

By Local Labs News Service

Mar 1, 2017

Former state school employee Sharon Adams, who retired in February 2017, saved $15,641 toward a pension over 9 years working for public schools, Teachers' Retirement System of the State of Illinois records show.

Over 30 years of retirement, Adams would collect as much as $690,218, according to a projection by Local Government Information Services (LGIS), which publishes Lake County Gazette.

The projection assumes Adams received $14,507 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 2 years of retirement, Adams will have already received $29,449 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

ORGANIZATIONS IN THIS STORY

Lake Zurich Community Unit School District 95 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