Lake County Gazette

Former state school employee Lorene Deichstetter, who retired in June 2018, saved $105,455 toward a pension over 21 years working for public schools, Teachers' Retirement System of the State of Illinois records show.

Over 30 years of retirement, Deichstetter would collect as much as $2.37 million, according to a projection by Local Government Information Services (LGIS), which publishes Lake County Gazette.

The projection assumes Deichstetter received $49,845 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Deichstetter will have already received $154,065 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.