Former state school employee Rose paid in $145K to teachers' pension fund, could collect $3.07M in retirement

By Local Labs News Service

Jul 1, 2017

Former state school employee Steven Rose, who retired in June 2017, saved $145,365 toward a pension over 21 years working for public schools, Teachers' Retirement System of the State of Illinois records show.

Over 30 years of retirement, Rose would collect as much as $3.07 million, according to a projection by Local Government Information Services (LGIS), which publishes Lake County Gazette.

The projection assumes Rose received $64,439 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Rose will have already received $199,174 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

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Township High School District 113 Board

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