Former state school employee Gordy paid in $26K to teachers' pension fund, could collect $1.14M in retirement

By Local Labs News Service

Dec 1, 2018

Former state school employee Linda Gordy, who retired in November 2018, saved $26,083 toward a pension over 13 years working for public schools, Teachers' Retirement System of the State of Illinois records show.

Over 30 years of retirement, Gordy would collect as much as $1.14 million, according to a projection by Local Government Information Services (LGIS), which publishes Lake County Gazette.

The projection assumes Gordy received $23,958 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 2 years of retirement, Gordy will have already received $48,635 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

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Round Lake Community Unit School District 116 Board

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