Former state school employee Johnston paid in $69K to teachers' pension fund, could collect $2.34M in retirement

By Local Labs News Service

Jun 1, 2018

Former state school employee Kathleen Johnston, who retired in May 2018, saved $68,962 toward a pension over 20 years working for public schools, Teachers' Retirement System of the State of Illinois records show.

Over 30 years of retirement, Johnston would collect as much as $2.34 million, according to a projection by Local Government Information Services (LGIS), which publishes Lake County Gazette.

The projection assumes Johnston received $49,193 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 2 years of retirement, Johnston will have already received $99,862 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

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