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DeKalb Times

Sunday, November 24, 2024

Former state school employee Moeller paid in $174K to teachers' pension fund, could collect $3.63M in retirement

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Former state school employee Douglas Moeller, who retired in April 2017, saved $173,656 toward a pension over 16 years working for public schools, Teachers' Retirement System of the State of Illinois records show.

Over 30 years of retirement, Moeller would collect as much as $3.63 million, according to a projection by Local Government Information Services (LGIS), which publishes DeKalb Times.

The projection assumes Moeller received $76,200 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Moeller will have already received $235,527 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

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