Will County Gazette

Will County Gazette

Thursday, April 9, 2020

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


By Local Labs News Service | Aug 1, 2017

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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.

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Joliet Township High School District 204

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