Former state school employee Goeke paid in $110K to teachers' pension fund, could collect $1.95M in retirement

By Local Labs News Service

Nov 1, 2017

Former state school employee David Goeke, who retired in October 2017, saved $110,215 toward a pension over 23 years working for public schools, Teachers' Retirement System of the State of Illinois records show.

Over 30 years of retirement, Goeke would collect as much as $1.95 million, according to a projection by Local Government Information Services (LGIS), which publishes NW Illinois News.

The projection assumes Goeke received $40,999 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Goeke will have already received $126,724 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

ORGANIZATIONS IN THIS STORY

Dakota Community Unit School District 201

!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