Lake County Gazette

Former state school employee Joan Weinberg, who retired in June 2017, saved $48,147 toward a pension over 13 years working for public schools, Teachers' Retirement System of the State of Illinois records show.

Over 30 years of retirement, Weinberg would collect as much as $849,198, according to a projection by Local Government Information Services (LGIS), which publishes Lake County Gazette.

The projection assumes Weinberg received $17,849 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Weinberg will have already received $55,169 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.