Former state school employee Steinberg paid in $181K to teachers' pension fund, could collect $4.05M in retirement

By Local Labs News Service

Jul 1, 2018

Former state school employee Jill Steinberg, who retired in June 2018, saved $180,730 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, Steinberg would collect as much as $4.05 million, according to a projection by Local Government Information Services (LGIS), which publishes Lake County Gazette.

The projection assumes Steinberg received $85,117 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Steinberg will have already received $263,089 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

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Round Lake Community Unit School District 116 Board

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