Lake County Gazette

Lake County Gazette

Thursday, December 12, 2019

Former state school employee Marcus paid in $26K to teachers' pension fund, could collect $863K in retirement

Schools

By Local Labs News Service | Mar 1, 2018

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Former state school employee Beth Marcus, who retired in February 2018, saved $25,836 toward a pension over 12 years working for public schools, Teachers' Retirement System of the State of Illinois records show.

Over 30 years of retirement, Marcus would collect as much as $862,711, according to a projection by Local Government Information Services (LGIS), which publishes Lake County Gazette.

The projection assumes Marcus received $18,133 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 2 years of retirement, Marcus will have already received $36,810 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

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Waukegan Community Unit School District 60

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