Former state school employee Van Maldegiam paid in $171K to teachers' pension fund, could collect $3.3M in retirement

By Local Labs News Service

Jul 1, 2016

Former state school employee Debra Van Maldegiam, who retired in June 2016, saved $170,810 toward a pension over 35 years working for public schools, Teachers' Retirement System of the State of Illinois records show.

Over 30 years of retirement, Van Maldegiam would collect as much as $3.3 million, according to a projection by Local Government Information Services (LGIS), which publishes Lake County Gazette.

The projection assumes Van Maldegiam received $69,313 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Van Maldegiam will have already received $214,239 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

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Gavin School District 37 Board

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