Lake County Gazette

Lake County Gazette

Monday, February 24, 2020

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


By Local Labs News Service | Jan 1, 2018

Shutterstock 443523112

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.

Want to get notified whenever we write about Waukegan Community Unit School District 60 ?

Sign-up Next time we write about Waukegan Community Unit School District 60, we'll email you a link to the story. You may edit your settings or unsubscribe at any time.

Organizations in this Story

Waukegan Community Unit School District 60

More News