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North Cook News

Monday, April 28, 2025

Former state school employee Godley paid in $15K to teachers' pension fund, could collect $428K in retirement

Money 02

Former state school employee Pamela Godley, who retired in January 2017, saved $14,999 toward a pension over 6 years working for public schools, Teachers' Retirement System of the State of Illinois records show.

Over 30 years of retirement, Godley would collect as much as $428,424, according to a projection by Local Government Information Services (LGIS), which publishes North Cook News.

The projection assumes Godley received $9,005 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 2 years of retirement, Godley will have already received $18,280 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

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