Lake County Gazette

Former state school employee Herman Edelson, who retired in October 2016, saved $52,359 toward a pension over 12 years working for public schools, Teachers' Retirement System of the State of Illinois records show.

Over 30 years of retirement, Edelson would collect as much as $837,980, according to a projection by Local Government Information Services (LGIS), which publishes Lake County Gazette.

The projection assumes Edelson received $17,613 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Edelson will have already received $54,439 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.