Former state school employee Arendas paid in $70K to teachers' pension fund, could collect $1.06M in retirement

By Local Labs News Service

Jun 1, 2016

Former state school employee Susan Arendas, who retired in May 2016, saved $69,931 toward a pension over 16 years working for public schools, Teachers' Retirement System of the State of Illinois records show.

Over 30 years of retirement, Arendas would collect as much as $1.06 million, according to a projection by Local Government Information Services (LGIS), which publishes Lake County Gazette.

The projection assumes Arendas received $22,313 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 4 years of retirement, Arendas will have already received $93,347 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

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Community High School District 117

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