Will County Gazette

Will County Gazette

Friday, February 21, 2020

Former state school employee Woodard paid in $232K to teachers' pension fund, could collect $5.94M in retirement

Schools

By Local Labs News Service | Aug 1, 2017

Shutterstock 369740408

Former state school employee Deanna Woodard, who retired in July 2017, saved $232,184 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, Woodard would collect as much as $5.94 million, according to a projection by Local Government Information Services (LGIS), which publishes Will County Gazette.

The projection assumes Woodard received $124,904 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 2 years of retirement, Woodard will have already received $253,555 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

Want to get notified whenever we write about Joliet Township High School District 204 ?

Sign-up Next time we write about Joliet Township High School District 204, we'll email you a link to the story. You may edit your settings or unsubscribe at any time.

Organizations in this Story

Joliet Township High School District 204

More News