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McHenry Times

Monday, November 25, 2024

Former state school employee Geheb paid in $77K to teachers' pension fund, could collect $1.29M in retirement

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Former state school employee Debra Geheb, who retired in May 2016, saved $76,575 toward a pension over 17 years working for public schools, Teachers' Retirement System of the State of Illinois records show.

Over 30 years of retirement, Geheb would collect as much as $1.29 million, according to a projection by Local Government Information Services (LGIS), which publishes McHenry Times.

The projection assumes Geheb received $27,170 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Geheb will have already received $83,980 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

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