Lake County Gazette

Lake County Gazette

Thursday, December 12, 2019

Former state school employee Schoessow paid in $37K to teachers' pension fund, could collect $577K in retirement

Schools

By Local Labs News Service | May 1, 2018

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Former state school employee Pamela Schoessow, who retired in April 2018, saved $36,558 toward a pension over 11 years working for public schools, Teachers' Retirement System of the State of Illinois records show.

Over 30 years of retirement, Schoessow would collect as much as $576,722, according to a projection by Local Government Information Services (LGIS), which publishes Lake County Gazette.

The projection assumes Schoessow received $12,122 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Schoessow will have already received $37,469 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

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