Former state school employee Jensen paid in $232K to teachers' pension fund, could collect $5.26M in retirement

By Local Labs News Service

Jul 1, 2016

Former state school employee Elizabeth Jensen, who retired in June 2016, saved $232,064 toward a pension over 35 years working for public schools, Teachers' Retirement System of the State of Illinois records show.

Over 30 years of retirement, Jensen would collect as much as $5.26 million, according to a projection by Local Government Information Services (LGIS), which publishes Lake County Gazette.

The projection assumes Jensen received $110,646 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Jensen will have already received $341,995 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

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Lake Forest Community High School District 115

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