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South Central Reporter

Wednesday, November 6, 2024

Former state school employee Strachan paid in $116K to teachers' pension fund, could collect $2.45M in retirement

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Former state school employee Deborah Strachan, who retired in May 2018, saved $116,050 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, Strachan would collect as much as $2.45 million, according to a projection by Local Government Information Services (LGIS), which publishes South Central Reporter.

The projection assumes Strachan received $51,449 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Strachan will have already received $159,023 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

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