Lake County Gazette

Lake County Gazette

Sunday, November 17, 2019

Former state school employee Goebel paid in $120K to teachers' pension fund, could collect $2.2M in retirement

Schools

By Local Labs News Service | Nov 1, 2018

Money041

Former state school employee Sharon Goebel, who retired in October 2018, saved $120,298 toward a pension over 30 years working for public schools, Teachers' Retirement System of the State of Illinois records show.

Over 30 years of retirement, Goebel would collect as much as $2.2 million, according to a projection by Local Government Information Services (LGIS), which publishes Lake County Gazette.

The projection assumes Goebel received $46,261 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Goebel will have already received $142,988 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

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