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East Central Reporter

Friday, April 26, 2024

Former state school employee Deckard paid in $66K to teachers' pension fund, could collect $1.28M in retirement

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Former state school employee Valinda Deckard, who retired in May 2016, saved $66,497 toward a pension over 24 years working for public schools, Teachers' Retirement System of the State of Illinois records show.

Over 30 years of retirement, Deckard would collect as much as $1.28 million, according to a projection by Local Government Information Services (LGIS), which publishes East Central Reporter.

The projection assumes Deckard received $26,936 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Deckard will have already received $83,256 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

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