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Sangamon Sun

Saturday, November 23, 2024

Former state school employee Riedl paid in $143K to teachers' pension fund, could collect $3.8M in retirement

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Former state school employee Judy Riedl, who retired in June 2016, saved $143,446 toward a pension over 35 years working for public schools, Teachers' Retirement System of the State of Illinois records show.

Over 30 years of retirement, Riedl would collect as much as $3.8 million, according to a projection by Local Government Information Services (LGIS), which publishes Sangamon Sun.

The projection assumes Riedl received $79,875 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 2 years of retirement, Riedl will have already received $162,146 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

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