Former state school employee Lamb paid in $139K to teachers' pension fund, could collect $2.57M in retirement

By Local Labs News Service

Jun 1, 2018

Former state school employee Mark Lamb, who retired in May 2018, saved $139,318 toward a pension over 26 years working for public schools, Teachers' Retirement System of the State of Illinois records show.

Over 30 years of retirement, Lamb would collect as much as $2.57 million, according to a projection by Local Government Information Services (LGIS), which publishes NW Illinois News.

The projection assumes Lamb received $54,078 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Lamb will have already received $167,149 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

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Rochelle Township High School District 212

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