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Kendall County Times

Tuesday, April 23, 2024

Former state school employee Wadephul paid in $136K to teachers' pension fund, could collect $1.9M in retirement

Money 06

Former state school employee Doreen Wadephul, who retired in May 2016, saved $136,056 toward a pension over 30 years working for public schools, Teachers' Retirement System of the State of Illinois records show.

Over 30 years of retirement, Wadephul would collect as much as $1.9 million, according to a projection by Local Government Information Services (LGIS), which publishes Kendall County Times.

The projection assumes Wadephul received $39,907 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 4 years of retirement, Wadephul will have already received $166,955 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

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