Lake County Gazette

Former state school employee Noe Garces, who retired in December 2018, saved $82,994 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, Garces would collect as much as $1.62 million, according to a projection by Local Government Information Services (LGIS), which publishes Lake County Gazette.

The projection assumes Garces received $34,122 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Garces will have already received $105,468 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.