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South Cook News

Sunday, April 20, 2025

Former state school employee Webster paid in $156K to teachers' pension fund, could collect $2.15M in retirement

Money 03

Former state school employee Lisa Webster, who retired in May 2016, saved $156,014 toward a pension over 29 years working for public schools, Teachers' Retirement System of the State of Illinois records show.

Over 30 years of retirement, Webster would collect as much as $2.15 million, according to a projection by Local Government Information Services (LGIS), which publishes South Cook News.

The projection assumes Webster received $45,137 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 4 years of retirement, Webster will have already received $188,837 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

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