Lake County Gazette

Lake County Gazette

Tuesday, November 12, 2019

Former state school employee Siano Eck paid in $30K to teachers' pension fund, could collect $1.15M in retirement

Schools

By Local Labs News Service | Jul 1, 2016

Money759

Former state school employee Virginia Siano Eck, who retired in June 2016, saved $29,766 toward a pension over 18 years working for public schools, Teachers' Retirement System of the State of Illinois records show.

Over 30 years of retirement, Siano Eck would collect as much as $1.15 million, according to a projection by Local Government Information Services (LGIS), which publishes Lake County Gazette.

The projection assumes Siano Eck received $24,264 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 2 years of retirement, Siano Eck will have already received $49,256 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

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Adlai E. Stevenson High School District 125

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