Lake County Gazette

Former state school employee Katherine Babcock, who retired in June 2018, saved $135,052 toward a pension over 33 years working for public schools, Teachers' Retirement System of the State of Illinois records show.

Over 30 years of retirement, Babcock would collect as much as $3.73 million, according to a projection by Local Government Information Services (LGIS), which publishes Lake County Gazette.

The projection assumes Babcock received $78,349 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 2 years of retirement, Babcock will have already received $159,048 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.