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Lake County Gazette

Sunday, June 29, 2025

Former state school employee Matthews paid in $162K to teachers' pension fund, could collect $3.39M in retirement

Money 06

Former state school employee Julie Matthews, who retired in April 2018, saved $162,360 toward a pension over 35 years working for public schools, Teachers' Retirement System of the State of Illinois records show.

Over 30 years of retirement, Matthews would collect as much as $3.39 million, according to a projection by Local Government Information Services (LGIS), which publishes Lake County Gazette.

The projection assumes Matthews received $71,266 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Matthews will have already received $220,276 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

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