Lake County Gazette

Lake County Gazette

Thursday, November 14, 2019

Former state school employee Plath paid in $127K to teachers' pension fund, could collect $2.63M in retirement

Schools

By Local Labs News Service | Jul 1, 2018

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Former state school employee Kathy Plath, who retired in June 2018, saved $126,503 toward a pension over 25 years working for public schools, Teachers' Retirement System of the State of Illinois records show.

Over 30 years of retirement, Plath would collect as much as $2.63 million, according to a projection by Local Government Information Services (LGIS), which publishes Lake County Gazette.

The projection assumes Plath received $55,376 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Plath will have already received $171,161 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

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