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Lake County Gazette

Saturday, April 20, 2024

Former state school employee Lindel paid in $16K to teachers' pension fund, could collect $214K in retirement

Money 03

Former state school employee Lisa Lindel, who retired in February 2017, saved $16,460 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, Lindel would collect as much as $213,980, according to a projection by Local Government Information Services (LGIS), which publishes Lake County Gazette.

The projection assumes Lindel received $4,497 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 4 years of retirement, Lindel will have already received $18,814 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

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