Former state school employee Goedke paid in $158K to teachers' pension fund, could collect $3.74M in retirement

By Local Labs News Service

Aug 1, 2016

Former state school employee Linda Goedke, who retired in July 2016, saved $158,049 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, Goedke would collect as much as $3.74 million, according to a projection by Local Government Information Services (LGIS), which publishes Will County Gazette.

The projection assumes Goedke received $78,577 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 2 years of retirement, Goedke will have already received $159,511 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

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Beecher Community Unit School District 200u

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