Quantcast

Lake County Gazette

Wednesday, October 1, 2025

Former state school employee Thompson paid in $141K to teachers' pension fund, could collect $2.82M in retirement

Shutterstock 434242897

Former state school employee Joan Thompson, who retired in June 2018, saved $140,938 toward a pension over 30 years working for public schools, Teachers' Retirement System of the State of Illinois records show.

Over 30 years of retirement, Thompson would collect as much as $2.82 million, according to a projection by Local Government Information Services (LGIS), which publishes Lake County Gazette.

The projection assumes Thompson received $59,182 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Thompson will have already received $182,925 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

MORE NEWS