Lake County Gazette

Lake County Gazette

Thursday, November 14, 2019

Former state school employee Woodley paid in $75K to teachers' pension fund, could collect $1.39M in retirement

Schools

By Local Labs News Service | Jan 1, 2018

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Former state school employee Kimberly Woodley, who retired in December 2017, saved $75,422 toward a pension over 20 years working for public schools, Teachers' Retirement System of the State of Illinois records show.

Over 30 years of retirement, Woodley would collect as much as $1.39 million, according to a projection by Local Government Information Services (LGIS), which publishes Lake County Gazette.

The projection assumes Woodley received $29,297 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Woodley will have already received $90,554 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

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Lake Zurich Community Unit School District 95

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