Lake County Gazette

Lake County Gazette

Thursday, December 5, 2019

Former state school employee Mueller paid in $16K to teachers' pension fund, could collect $334K in retirement

Schools

By Local Labs News Service | May 1, 2018

Money 06

Former state school employee Janet Mueller, who retired in April 2018, saved $15,655 toward a pension over 6 years working for public schools, Teachers' Retirement System of the State of Illinois records show.

Over 30 years of retirement, Mueller would collect as much as $333,665, according to a projection by Local Government Information Services (LGIS), which publishes Lake County Gazette.

The projection assumes Mueller received $7,013 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Mueller will have already received $21,676 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

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Lake Bluff Elementary School District 65

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