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Peoria Standard

Thursday, December 26, 2024

Former state school employee Gabor paid in $58K to teachers' pension fund, could collect $861K in retirement

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Former state school employee Deborah Gabor, who retired in May 2016, saved $57,802 toward a pension over 16 years working for public schools, Teachers' Retirement System of the State of Illinois records show.

Over 30 years of retirement, Gabor would collect as much as $861,233, according to a projection by Local Government Information Services (LGIS), which publishes Peoria Standard.

The projection assumes Gabor received $18,102 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 4 years of retirement, Gabor will have already received $75,731 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

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