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McHenry Times

Friday, April 19, 2024

Former state school employee Deodhar paid in $84K to teachers' pension fund, could collect $1.39M in retirement

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Former state school employee Susan Deodhar, who retired in December 2018, saved $84,133 toward a pension over 15 years working for public schools, Teachers' Retirement System of the State of Illinois records show.

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

The projection assumes Deodhar received $29,114 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Deodhar will have already received $89,988 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

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