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West Cook News

Tuesday, April 23, 2024

Former state school employee Deaton paid in $102K to teachers' pension fund, could collect $1.66M in retirement

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Former state school employee Dawn Deaton, who retired in June 2018, saved $102,020 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, Deaton would collect as much as $1.66 million, according to a projection by Local Government Information Services (LGIS), which publishes West Cook News.

The projection assumes Deaton received $34,961 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Deaton will have already received $108,061 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

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