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Lake County Gazette

Thursday, April 3, 2025

Former state school employee Hollander paid in $144K to teachers' pension fund, could collect $2.51M in retirement

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Former state school employee Rita Hollander, who retired in June 2017, saved $144,321 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, Hollander would collect as much as $2.51 million, according to a projection by Local Government Information Services (LGIS), which publishes Lake County Gazette.

The projection assumes Hollander received $52,726 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Hollander will have already received $162,971 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

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