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Lake County Gazette

Tuesday, November 26, 2024

Former state school employee Mauzer paid in $9K to teachers' pension fund, could collect $245K in retirement

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Former state school employee Deborah Mauzer, who retired in February 2017, saved $9,116 toward a pension over 7 years working for public schools, Teachers' Retirement System of the State of Illinois records show.

Over 30 years of retirement, Mauzer would collect as much as $244,764, according to a projection by Local Government Information Services (LGIS), which publishes Lake County Gazette.

The projection assumes Mauzer received $5,144 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 2 years of retirement, Mauzer will have already received $10,442 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

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