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DeKalb Times

Monday, November 18, 2024

Former state school employee Heimerdinger paid in $17K to teachers' pension fund, could collect $1.56M in retirement

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Former state school employee Jane Heimerdinger, who retired in March 2018, saved $16,871 toward a pension over 15 years working for public schools, Teachers' Retirement System of the State of Illinois records show.

Over 30 years of retirement, Heimerdinger would collect as much as $1.56 million, according to a projection by Local Government Information Services (LGIS), which publishes DeKalb Times.

The projection assumes Heimerdinger received $32,885 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 1 years of retirement, Heimerdinger will have already received $32,885 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

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