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Lake County Gazette

Tuesday, November 26, 2024

Former state school employee Eisenberg paid in $19K to teachers' pension fund, could collect $576K in retirement

Money041

Former state school employee Sarah Eisenberg, who retired in February 2017, saved $19,351 toward a pension over 10 years working for public schools, Teachers' Retirement System of the State of Illinois records show.

Over 30 years of retirement, Eisenberg would collect as much as $575,586, according to a projection by Local Government Information Services (LGIS), which publishes Lake County Gazette.

The projection assumes Eisenberg received $12,098 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 2 years of retirement, Eisenberg will have already received $24,559 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

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