Former state school employee Elman paid in $230K to teachers' pension fund, could collect $4.1M in retirement

By Local Labs News Service

Jul 1, 2017

Former state school employee Judith Elman, who retired in June 2017, saved $230,002 toward a pension over 27 years working for public schools, Teachers' Retirement System of the State of Illinois records show.

Over 30 years of retirement, Elman would collect as much as $4.1 million, according to a projection by Local Government Information Services (LGIS), which publishes Lake County Gazette.

The projection assumes Elman received $86,075 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Elman will have already received $266,049 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

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Township High School District 113 Board

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