Lake County Gazette

Lake County Gazette

Wednesday, November 13, 2019

Former state school employee Teeters paid in $25K to teachers' pension fund, could collect $848K in retirement

Schools

By Local Labs News Service | Jan 1, 2018

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Former state school employee Kim Teeters, who retired in December 2017, saved $25,408 toward a pension over 14 years working for public schools, Teachers' Retirement System of the State of Illinois records show.

Over 30 years of retirement, Teeters would collect as much as $847,976, according to a projection by Local Government Information Services (LGIS), which publishes Lake County Gazette.

The projection assumes Teeters received $17,823 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 2 years of retirement, Teeters will have already received $36,181 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

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Mundelein Elementary School District 75

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