Lake County Gazette

Lake County Gazette

Sunday, December 8, 2019

Former state school employee Wolff paid in $94K to teachers' pension fund, could collect $2.13M in retirement

Schools

By Local Labs News Service | May 1, 2018

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Former state school employee Tracey Wolff, who retired in April 2018, saved $94,167 toward a pension over 22 years working for public schools, Teachers' Retirement System of the State of Illinois records show.

Over 30 years of retirement, Wolff would collect as much as $2.13 million, according to a projection by Local Government Information Services (LGIS), which publishes Lake County Gazette.

The projection assumes Wolff received $44,864 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Wolff will have already received $138,670 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

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Wauconda Community Unit School District 118

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