Quantcast

Lake County Gazette

Friday, April 18, 2025

Former state school employee Ross paid in $124K to teachers' pension fund, could collect $2.83M in retirement

Shutterstock 381111379

Former state school employee Barbara Ross, who retired in June 2017, saved $124,082 toward a pension over 33 years working for public schools, Teachers' Retirement System of the State of Illinois records show.

Over 30 years of retirement, Ross would collect as much as $2.83 million, according to a projection by Local Government Information Services (LGIS), which publishes Lake County Gazette.

The projection assumes Ross received $59,452 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Ross will have already received $183,761 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

MORE NEWS