Lake County Gazette

Lake County Gazette

Thursday, November 14, 2019

Former state school employee Meyers paid in $142K to teachers' pension fund, could collect $2.72M in retirement

Schools

By Local Labs News Service | Jul 1, 2016

Money 08

Former state school employee Cindy Meyers, who retired in June 2016, saved $141,680 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, Meyers would collect as much as $2.72 million, according to a projection by Local Government Information Services (LGIS), which publishes Lake County Gazette.

The projection assumes Meyers received $57,141 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Meyers will have already received $176,617 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

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Lake Zurich Community Unit School District 95

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