Former state school employee Boddicker paid in $87K to teachers' pension fund, could collect $1.11M in retirement

By Local Labs News Service

Apr 1, 2017

Former state school employee Diane Boddicker, who retired in March 2017, saved $87,296 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, Boddicker would collect as much as $1.11 million, according to a projection by Local Government Information Services (LGIS), which publishes Lake County Gazette.

The projection assumes Boddicker received $23,374 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 4 years of retirement, Boddicker will have already received $97,787 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

ORGANIZATIONS IN THIS STORY

Gurnee School District 56

!RECEIVE ALERTS

The next time we write about any of these orgs, we’ll email you a link to the story. You may edit your settings or unsubscribe at any time.

Sign-up

DONATE

Help support the Metric Media Foundation's mission to restore community based news.

Donate