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Lake County Gazette

Saturday, April 19, 2025

Former state school employee Taylor paid in $131K to teachers' pension fund, could collect $2.76M in retirement

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Former state school employee Joanne Taylor, who retired in June 2017, saved $131,142 toward a pension over 27 years working for public schools, Teachers' Retirement System of the State of Illinois records show.

Over 30 years of retirement, Taylor would collect as much as $2.76 million, according to a projection by Local Government Information Services (LGIS), which publishes Lake County Gazette.

The projection assumes Taylor received $58,061 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Taylor will have already received $179,461 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

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