Quantcast

Lake County Gazette

Saturday, April 20, 2024

Former state school employee Harth paid in $42K to teachers' pension fund, could collect $867K in retirement

Shutterstock 434242897

Former state school employee Ronald Harth, who retired in December 2017, saved $42,478 toward a pension over 14 years working for public schools, Teachers' Retirement System of the State of Illinois records show.

Over 30 years of retirement, Harth would collect as much as $866,936, according to a projection by Local Government Information Services (LGIS), which publishes Lake County Gazette.

The projection assumes Harth received $18,222 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Harth will have already received $56,323 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

ORGANIZATIONS IN THIS STORY

!RECEIVE ALERTS

The next time we write about any of these orgs, we’ll email you a link to the story. You may edit your settings or unsubscribe at any time.
Sign-up

DONATE

Help support the Metric Media Foundation's mission to restore community based news.
Donate

MORE NEWS