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Lake County Gazette

Tuesday, June 3, 2025

Former state school employee Barrett paid in $202K to teachers' pension fund, could collect $3.84M in retirement

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Former state school employee Karen Barrett, who retired in June 2017, saved $202,495 toward a pension over 34 years working for public schools, Teachers' Retirement System of the State of Illinois records show.

Over 30 years of retirement, Barrett would collect as much as $3.84 million, according to a projection by Local Government Information Services (LGIS), which publishes Lake County Gazette.

The projection assumes Barrett received $80,746 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Barrett will have already received $249,577 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

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