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Lake County Gazette

Monday, November 25, 2024

Former state school employee Doss paid in $13K to teachers' pension fund, could collect $608K in retirement

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Former state school employee Melinda Doss, who retired in March 2017, saved $12,681 toward a pension over 11 years working for public schools, Teachers' Retirement System of the State of Illinois records show.

Over 30 years of retirement, Doss would collect as much as $607,796, according to a projection by Local Government Information Services (LGIS), which publishes Lake County Gazette.

The projection assumes Doss received $12,775 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 1 years of retirement, Doss will have already received $12,775 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

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