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Lake County Gazette

Sunday, April 20, 2025

Former state school employee Bicket paid in $120K to teachers' pension fund, could collect $2.21M in retirement

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Former state school employee Nancy Bicket, who retired in June 2017, saved $120,491 toward a pension over 28 years working for public schools, Teachers' Retirement System of the State of Illinois records show.

Over 30 years of retirement, Bicket would collect as much as $2.21 million, according to a projection by Local Government Information Services (LGIS), which publishes Lake County Gazette.

The projection assumes Bicket received $46,478 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Bicket will have already received $143,658 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

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