Former state school employee Dam paid in $120K to teachers' pension fund, could collect $2.1M in retirement

By Local Labs News Service

Jul 1, 2016

Former state school employee Debra Dam, who retired in June 2016, saved $119,971 toward a pension over 29 years working for public schools, Teachers' Retirement System of the State of Illinois records show.

Over 30 years of retirement, Dam would collect as much as $2.1 million, according to a projection by Local Government Information Services (LGIS), which publishes Lake County Gazette.

The projection assumes Dam received $44,230 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Dam will have already received $136,711 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

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Fremont School District 79

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