Lake County Gazette

Former state school employee Scott Klose, who retired in May 2018, saved $81,548 toward a pension over 16 years working for public schools, Teachers' Retirement System of the State of Illinois records show.

Over 30 years of retirement, Klose would collect as much as $1.25 million, according to a projection by Local Government Information Services (LGIS), which publishes Lake County Gazette.

The projection assumes Klose received $26,362 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 4 years of retirement, Klose will have already received $110,290 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.