Lake County Gazette

Lake County Gazette

Tuesday, November 12, 2019

Former state school employee Idlas paid in $19K to teachers' pension fund, could collect $776K in retirement

Schools

By Local Labs News Service | Jul 1, 2018

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Former state school employee Margaret Idlas, who retired in June 2018, saved $18,711 toward a pension over 10 years working for public schools, Teachers' Retirement System of the State of Illinois records show.

Over 30 years of retirement, Idlas would collect as much as $775,802, according to a projection by Local Government Information Services (LGIS), which publishes Lake County Gazette.

The projection assumes Idlas received $16,306 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 2 years of retirement, Idlas will have already received $33,101 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

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