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DeKalb Times

Saturday, November 23, 2024

Former state school employee Gilbertson paid in $89K to teachers' pension fund, could collect $1.48M in retirement

Money 03

Former state school employee Debra Gilbertson, who retired in June 2016, saved $88,553 toward a pension over 19 years working for public schools, Teachers' Retirement System of the State of Illinois records show.

Over 30 years of retirement, Gilbertson would collect as much as $1.48 million, according to a projection by Local Government Information Services (LGIS), which publishes DeKalb Times.

The projection assumes Gilbertson received $31,079 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Gilbertson will have already received $96,061 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

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