Lake County Gazette

Former state school employee Beth Groesbeck, who retired in June 2018, saved $29,594 toward a pension over 8 years working for public schools, Teachers' Retirement System of the State of Illinois records show.

Over 30 years of retirement, Groesbeck would collect as much as $416,469, according to a projection by Local Government Information Services (LGIS), which publishes Lake County Gazette.

The projection assumes Groesbeck received $8,753 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 4 years of retirement, Groesbeck will have already received $36,620 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.