Former state school employee Lindbeck paid in $84K to teachers' pension fund, could collect $2.03M in retirement

By Rock Island Today Reports

Jun 1, 2016

Former state school employee Debora Lindbeck, who retired in May 2016, saved $84,028 toward a pension over 26 years working for public schools, Teachers' Retirement System of the State of Illinois records show.

Over 30 years of retirement, Lindbeck would collect as much as $2.03 million, according to a projection by Local Government Information Services (LGIS), which publishes Rock Island Today.

The projection assumes Lindbeck received $42,698 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 2 years of retirement, Lindbeck will have already received $86,677 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

ORGANIZATIONS IN THIS STORY

Galva Community Unit School District 224

!RECEIVE ALERTS

The next time we write about any of these orgs, we’ll email you a link to the story. You may edit your settings or unsubscribe at any time.

Sign-up

DONATE

Help support the Metric Media Foundation's mission to restore community based news.

Donate