Former state school employee Lindeen paid in $20K to teachers' pension fund, could collect $1.18M in retirement

By Local Labs News Service

Jul 1, 2018

Former state school employee Ellen Lindeen, who retired in June 2018, saved $20,255 toward a pension over 11 years working for public schools, Teachers' Retirement System of the State of Illinois records show.

Over 30 years of retirement, Lindeen would collect as much as $1.18 million, according to a projection by Local Government Information Services (LGIS), which publishes North Cook News.

The projection assumes Lindeen received $24,741 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 1 years of retirement, Lindeen will have already received $24,741 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

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Palatine School District 211

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