Former state school employee Paddock paid in $135K to teachers' pension fund, could collect $2.13M in retirement

By Local Labs News Service

Jul 1, 2016

Former state school employee Victoria Paddock, who retired in June 2016, saved $135,308 toward a pension over 24 years working for public schools, Teachers' Retirement System of the State of Illinois records show.

Over 30 years of retirement, Paddock would collect as much as $2.13 million, according to a projection by Local Government Information Services (LGIS), which publishes Lake County Gazette.

The projection assumes Paddock received $44,862 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Paddock will have already received $138,664 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

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Rondout School District 72

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