Lake County Gazette

Lake County Gazette

Wednesday, November 13, 2019

Former state school employee Moore paid in $13K to teachers' pension fund, could collect $197K in retirement

Schools

By Local Labs News Service | Jan 1, 2018

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Former state school employee Mary Moore, who retired in December 2017, saved $13,403 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, Moore would collect as much as $196,591, according to a projection by Local Government Information Services (LGIS), which publishes Lake County Gazette.

The projection assumes Moore received $4,132 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 4 years of retirement, Moore will have already received $17,288 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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