Prairie State Wire

Prairie State Wire

Tuesday, January 21, 2020

Former state school employee Soderberg paid in $179K to teachers' pension fund, could collect $3.19M in retirement

Schools

By Local Labs News Service | Nov 1, 2016

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Former state school employee Sally Soderberg, who retired in October 2016, saved $179,345 toward a pension over 21 years working for public schools, Teachers' Retirement System of the State of Illinois records show.

Over 30 years of retirement, Soderberg would collect as much as $3.19 million, according to a projection by Local Government Information Services (LGIS), which publishes Prairie State Wire.

The projection assumes Soderberg received $67,139 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Soderberg will have already received $207,520 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

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Teachers' Retirement System of the State of Illinois

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