Former state school employee Gerdes paid in $192K to teachers' pension fund, could collect $5.19M in retirement

By Local Labs News Service

Jul 1, 2018

Former state school employee Sharon Gerdes, who retired in June 2018, saved $192,348 toward a pension over 35 years working for public schools, Teachers' Retirement System of the State of Illinois records show.

Over 30 years of retirement, Gerdes would collect as much as $5.19 million, according to a projection by Local Government Information Services (LGIS), which publishes Will County Gazette.

The projection assumes Gerdes received $109,115 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 2 years of retirement, Gerdes will have already received $221,503 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

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Lockport Township High School District 205

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