Quantcast

Lake County Gazette

Tuesday, April 23, 2024

Former state school employee Diebold paid in $14K to teachers' pension fund, could collect $217K in retirement

Shutterstock 381111379

Former state school employee Leo Diebold, who retired in April 2018, saved $14,230 toward a pension over 8 years working for public schools, Teachers' Retirement System of the State of Illinois records show.

Over 30 years of retirement, Diebold would collect as much as $216,572, according to a projection by Local Government Information Services (LGIS), which publishes Lake County Gazette.

The projection assumes Diebold received $4,552 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 4 years of retirement, Diebold will have already received $19,046 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

ORGANIZATIONS IN THIS STORY

!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

MORE NEWS