Former state school employee Derby paid in $161K to teachers' pension fund, could collect $4.37M in retirement

By Local Labs News Service

Aug 1, 2017

Former state school employee Debra Derby, who retired in July 2017, saved $161,409 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, Derby would collect as much as $4.37 million, according to a projection by Local Government Information Services (LGIS), which publishes McLean County Times.

The projection assumes Derby received $91,955 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 2 years of retirement, Derby will have already received $186,669 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

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