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Lake County Gazette

Tuesday, April 23, 2024

Former state school employee Moss paid in $2K to teachers' pension fund, could collect $42K in retirement

Money 04

Former state school employee Kathy Moss, who retired in August 2016, saved $1,838 toward a pension over 1 years working for public schools, Teachers' Retirement System of the State of Illinois records show.

Over 30 years of retirement, Moss would collect as much as $41,773, according to a projection by Local Government Information Services (LGIS), which publishes Lake County Gazette.

The projection assumes Moss received $878 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Moss will have already received $2,713 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

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