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Lake County Gazette

Thursday, June 5, 2025

Former state school employee Lindquist paid in $88K to teachers' pension fund, could collect $2.02M in retirement

Money 05

Former state school employee Jane Lindquist, who retired in June 2016, saved $87,846 toward a pension over 27 years working for public schools, Teachers' Retirement System of the State of Illinois records show.

Over 30 years of retirement, Lindquist would collect as much as $2.02 million, according to a projection by Local Government Information Services (LGIS), which publishes Lake County Gazette.

The projection assumes Lindquist received $42,360 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Lindquist will have already received $130,931 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

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