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East Central Reporter

Thursday, January 9, 2025

Former state school employee Gummert paid in $98K to teachers' pension fund, could collect $1.99M in retirement

Money 05

Former state school employee Deborah Gummert, who retired in May 2018, saved $97,523 toward a pension over 30 years working for public schools, Teachers' Retirement System of the State of Illinois records show.

Over 30 years of retirement, Gummert would collect as much as $1.99 million, according to a projection by Local Government Information Services (LGIS), which publishes East Central Reporter.

The projection assumes Gummert received $41,753 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Gummert will have already received $129,055 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

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