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Macon Reporter

Monday, December 23, 2024

Former state school employee Gottemoller paid in $55K to teachers' pension fund, could collect $788K in retirement

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Former state school employee Barbara Gottemoller, who retired in May 2017, saved $54,916 toward a pension over 10 years working for public schools, Teachers' Retirement System of the State of Illinois records show.

Over 30 years of retirement, Gottemoller would collect as much as $788,322, according to a projection by Local Government Information Services (LGIS), which publishes Macon Reporter.

The projection assumes Gottemoller received $16,569 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 4 years of retirement, Gottemoller will have already received $69,318 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

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