Lake County Gazette

Lake County Gazette

Tuesday, November 19, 2019

Former state school employee Batz paid in $113K to teachers' pension fund, could collect $1.71M in retirement

Schools

By Local Labs News Service | Jul 1, 2018

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Former state school employee Michele Batz, who retired in June 2018, saved $112,600 toward a pension over 17 years working for public schools, Teachers' Retirement System of the State of Illinois records show.

Over 30 years of retirement, Batz would collect as much as $1.71 million, according to a projection by Local Government Information Services (LGIS), which publishes Lake County Gazette.

The projection assumes Batz received $35,843 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 4 years of retirement, Batz will have already received $149,954 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

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Beach Park Community Consolidated School District 3

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