Kankakee Times

Kankakee Times

Monday, December 9, 2019

Former state school employee Decker paid in $125K to teachers' pension fund, could collect $2.58M in retirement

Schools

By Local Labs News Service | Jan 1, 2019

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Former state school employee Don Decker, who retired in December 2018, saved $124,600 toward a pension over 30 years working for public schools, Teachers' Retirement System of the State of Illinois records show.

Over 30 years of retirement, Decker would collect as much as $2.58 million, according to a projection by Local Government Information Services (LGIS), which publishes Kankakee Times.

The projection assumes Decker received $54,203 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Decker will have already received $167,536 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

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