Lake County Gazette

Lake County Gazette

Wednesday, November 13, 2019

Former state school employee Prewitt paid in $56K to teachers' pension fund, could collect $864K in retirement

Schools

By Local Labs News Service | Jan 1, 2017

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Former state school employee Linda Prewitt, who retired in December 2016, saved $55,963 toward a pension over 14 years working for public schools, Teachers' Retirement System of the State of Illinois records show.

Over 30 years of retirement, Prewitt would collect as much as $863,613, according to a projection by Local Government Information Services (LGIS), which publishes Lake County Gazette.

The projection assumes Prewitt received $18,152 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Prewitt will have already received $56,107 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

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Illinois State Board of Education

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