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Peoria Standard

Tuesday, April 23, 2024

Former state school employee Dieckow paid in $18K to teachers' pension fund, could collect $289K in retirement

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Former state school employee Janice Dieckow, who retired in August 2018, saved $17,533 toward a pension over 7 years working for public schools, Teachers' Retirement System of the State of Illinois records show.

Over 30 years of retirement, Dieckow would collect as much as $288,501, according to a projection by Local Government Information Services (LGIS), which publishes Peoria Standard.

The projection assumes Dieckow received $6,064 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Dieckow will have already received $18,743 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

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