Former state school employee Goldman paid in $209K to teachers' pension fund, could collect $5.27M in retirement

By Local Labs News Service

Jul 1, 2016

Former state school employee Sheryl Goldman, who retired in June 2016, saved $208,612 toward a pension over 40 years working for public schools, Teachers' Retirement System of the State of Illinois records show.

Over 30 years of retirement, Goldman would collect as much as $5.27 million, according to a projection by Local Government Information Services (LGIS), which publishes Lake County Gazette.

The projection assumes Goldman received $110,819 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 2 years of retirement, Goldman will have already received $224,963 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

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