Lake County Gazette

Former state school employee Selma Hake, who retired in March 2018, saved $56,039 toward a pension over 16 years working for public schools, Teachers' Retirement System of the State of Illinois records show.

Over 30 years of retirement, Hake would collect as much as $880,061, according to a projection by Local Government Information Services (LGIS), which publishes Lake County Gazette.

The projection assumes Hake received $18,498 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Hake will have already received $57,176 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.