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

Schools

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.

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Adlai E. Stevenson High School District 125

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