Quantcast

Lake County Gazette

Tuesday, April 29, 2025

Former state school employee Booth paid in $86K to teachers' pension fund, could collect $1.49M in retirement

Money 03

Former state school employee Lynnette Booth, who retired in July 2018, saved $85,549 toward a pension over 18 years working for public schools, Teachers' Retirement System of the State of Illinois records show.

Over 30 years of retirement, Booth would collect as much as $1.49 million, according to a projection by Local Government Information Services (LGIS), which publishes Lake County Gazette.

The projection assumes Booth received $31,313 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Booth will have already received $96,785 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

MORE NEWS