Lake County Gazette

Lake County Gazette

Thursday, November 14, 2019

Former state school employee Muto paid in $134K to teachers' pension fund, could collect $3.06M in retirement

Schools

By Local Labs News Service | Jul 1, 2018

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Former state school employee Susan Muto, who retired in June 2018, saved $134,290 toward a pension over 27 years working for public schools, Teachers' Retirement System of the State of Illinois records show.

Over 30 years of retirement, Muto would collect as much as $3.06 million, according to a projection by Local Government Information Services (LGIS), which publishes Lake County Gazette.

The projection assumes Muto received $64,387 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Muto will have already received $199,015 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

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Round Lake Community Unit School District 116

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