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Lake County Gazette

Saturday, April 20, 2024

Former state school employee Adams paid in $9K to teachers' pension fund, could collect $84K in retirement

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Former state school employee Robert Adams, who retired in January 2018, saved $8,864 toward a pension over 2 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 $83,831, according to a projection by Local Government Information Services (LGIS), which publishes Lake County Gazette.

The projection assumes Adams received $1,762 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 5 years of retirement, Adams will have already received $9,354 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

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