Lake County Gazette

Former state school employee Carol Palicki, who retired in June 2018, saved $169,994 toward a pension over 30 years working for public schools, Teachers' Retirement System of the State of Illinois records show.

Over 30 years of retirement, Palicki would collect as much as $3.66 million, according to a projection by Local Government Information Services (LGIS), which publishes Lake County Gazette.

The projection assumes Palicki received $76,826 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Palicki will have already received $237,462 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.