Former state school employee Berger paid in $71K to teachers' pension fund, could collect $1.33M in retirement

By Local Labs News Service

Feb 1, 2018

Former state school employee Elizabeth Berger, who retired in January 2018, saved $70,626 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, Berger would collect as much as $1.33 million, according to a projection by Local Government Information Services (LGIS), which publishes Lake County Gazette.

The projection assumes Berger received $28,027 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Berger will have already received $86,629 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

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Special Education District Of Lake County

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