Former state school employee Ross paid in $145K to teachers' pension fund, could collect $2.97M in retirement

By Local Labs News Service

Jun 1, 2016

Former state school employee James Ross, who retired in May 2016, saved $144,900 toward a pension over 35 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 $2.97 million, according to a projection by Local Government Information Services (LGIS), which publishes Lake County Gazette.

The projection assumes Ross received $62,510 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Ross will have already received $193,212 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

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Special Education District Of Lake County

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