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DeKalb Times

Monday, May 20, 2024

Former state school employee Decorte paid in $155K to teachers' pension fund, could collect $3.59M in retirement

Money272

Former state school employee Shirley Decorte, who retired in June 2017, saved $154,616 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, Decorte would collect as much as $3.59 million, according to a projection by Local Government Information Services (LGIS), which publishes DeKalb Times.

The projection assumes Decorte received $75,354 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Decorte will have already received $232,912 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

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