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Lake County Gazette

Friday, April 18, 2025

Former state school employee Greenberg paid in $162K to teachers' pension fund, could collect $3.44M in retirement

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Former state school employee Bobbe Greenberg, who retired in June 2016, saved $161,658 toward a pension over 25 years working for public schools, Teachers' Retirement System of the State of Illinois records show.

Over 30 years of retirement, Greenberg would collect as much as $3.44 million, according to a projection by Local Government Information Services (LGIS), which publishes Lake County Gazette.

The projection assumes Greenberg received $72,339 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Greenberg will have already received $223,592 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

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