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Lake County Gazette

Friday, April 19, 2024

Former state school employee Roth paid in $5K to teachers' pension fund, could collect $197K in retirement

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Former state school employee Michael Roth, who retired in June 2016, saved $4,622 toward a pension over 2 years working for public schools, Teachers' Retirement System of the State of Illinois records show.

Over 30 years of retirement, Roth would collect as much as $196,967, according to a projection by Local Government Information Services (LGIS), which publishes Lake County Gazette.

The projection assumes Roth received $4,140 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 2 years of retirement, Roth will have already received $8,404 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

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