Former state school employee Biegel paid in $137K to teachers' pension fund, could collect $3.01M in retirement

By Local Labs News Service

Jul 1, 2017

Former state school employee Monica Biegel, who retired in June 2017, saved $136,561 toward a pension over 27 years working for public schools, Teachers' Retirement System of the State of Illinois records show.

Over 30 years of retirement, Biegel would collect as much as $3.01 million, according to a projection by Local Government Information Services (LGIS), which publishes Lake County Gazette.

The projection assumes Biegel received $63,224 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Biegel will have already received $195,420 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

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North Shore School District 112

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