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Sangamon Sun

Tuesday, November 5, 2024

Former state school employee Ebers paid in $78K to teachers' pension fund, could collect $1.35M in retirement

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Former state school employee Judith Ebers, who retired in June 2017, saved $78,298 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, Ebers would collect as much as $1.35 million, according to a projection by Local Government Information Services (LGIS), which publishes Sangamon Sun.

The projection assumes Ebers received $28,333 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Ebers will have already received $87,574 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

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