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Kankakee Times

Friday, April 26, 2024

Former state school employee Ertel paid in $139K to teachers' pension fund, could collect $2.91M in retirement

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Former state school employee Donna Ertel, who retired in May 2016, saved $139,015 toward a pension over 32 years working for public schools, Teachers' Retirement System of the State of Illinois records show.

Over 30 years of retirement, Ertel would collect as much as $2.91 million, according to a projection by Local Government Information Services (LGIS), which publishes Kankakee Times.

The projection assumes Ertel received $61,191 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Ertel will have already received $189,136 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

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