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Lake County Gazette

Monday, November 25, 2024

Former state school employee Marbach paid in $93K to teachers' pension fund, could collect $2.13M in retirement

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Former state school employee Erin Marbach, who retired in March 2017, saved $92,773 toward a pension over 23 years working for public schools, Teachers' Retirement System of the State of Illinois records show.

Over 30 years of retirement, Marbach would collect as much as $2.13 million, according to a projection by Local Government Information Services (LGIS), which publishes Lake County Gazette.

The projection assumes Marbach received $44,724 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Marbach will have already received $138,238 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

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