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Lake County Gazette

Friday, April 19, 2024

Former state school employee Decker paid in $2K to teachers' pension fund, could collect $67K in retirement

Money 08

Former state school employee Elisa Decker, who retired in August 2018, saved $1,695 toward a pension over 2 years working for public schools, Teachers' Retirement System of the State of Illinois records show.

Over 30 years of retirement, Decker would collect as much as $66,715, according to a projection by Local Government Information Services (LGIS), which publishes Lake County Gazette.

The projection assumes Decker received $1,402 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 2 years of retirement, Decker will have already received $2,846 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

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