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Dupage Policy Journal

Thursday, April 25, 2024

Former state school employee Gebka paid in $100K to teachers' pension fund, could collect $2.08M in retirement

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Former state school employee Mary Gebka, who retired in June 2017, saved $100,195 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, Gebka would collect as much as $2.08 million, according to a projection by Local Government Information Services (LGIS), which publishes DuPage Policy Journal.

The projection assumes Gebka received $43,686 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Gebka will have already received $135,030 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

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