Dupage Policy Journal

Dupage Policy Journal

Monday, December 16, 2019

Former state school employee Jacoby paid in $57K to teachers' pension fund, could collect $972K in retirement

Schools

By Local Labs News Service | Sep 1, 2018

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Former state school employee Lisa Jacoby, who retired in August 2018, saved $56,596 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, Jacoby would collect as much as $971,714, according to a projection by Local Government Information Services (LGIS), which publishes DuPage Policy Journal.

The projection assumes Jacoby received $20,424 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Jacoby will have already received $63,129 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

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Naperville Community Unit School District 203

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