Lake County Gazette

Lake County Gazette

Monday, November 11, 2019

Former state school employee Mount paid in $45K to teachers' pension fund, could collect $623K in retirement


By Local Labs News Service | Jan 1, 2018

Money 01

Former state school employee Cheryl Mount, who retired in December 2017, saved $45,022 toward a pension over 10 years working for public schools, Teachers' Retirement System of the State of Illinois records show.

Over 30 years of retirement, Mount would collect as much as $622,748, according to a projection by Local Government Information Services (LGIS), which publishes Lake County Gazette.

The projection assumes Mount received $13,089 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 4 years of retirement, Mount will have already received $54,760 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 Adlai E. Stevenson High School District 125 ?

Sign-up Next time we write about Adlai E. Stevenson High School District 125, we'll email you a link to the story. You may edit your settings or unsubscribe at any time.

Organizations in this Story

Adlai E. Stevenson High School District 125

More News