Former state school employee Gerts paid in $157K to teachers' pension fund, could collect $3.64M in retirement

By Local Labs News Service

Jul 1, 2018

Former state school employee Kerry Gerts, who retired in June 2018, saved $156,606 toward a pension over 33 years working for public schools, Teachers' Retirement System of the State of Illinois records show.

Over 30 years of retirement, Gerts would collect as much as $3.64 million, according to a projection by Local Government Information Services (LGIS), which publishes Lake County Gazette.

The projection assumes Gerts received $76,424 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Gerts will have already received $236,220 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

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North Chicago School District 187

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