Former state school employee Wagner paid in $67K to teachers' pension fund, could collect $1.18M in retirement

By Local Labs News Service

Jul 1, 2017

Former state school employee Debra Wagner, who retired in June 2017, saved $66,772 toward a pension over 15 years working for public schools, Teachers' Retirement System of the State of Illinois records show.

Over 30 years of retirement, Wagner would collect as much as $1.18 million, according to a projection by Local Government Information Services (LGIS), which publishes McLean County Times.

The projection assumes Wagner received $24,802 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Wagner will have already received $76,660 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

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Tri-County Special Education Association

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