Quantcast

East Central Reporter

Thursday, December 26, 2024

Former state school employee Hudson paid in $42K to teachers' pension fund, could collect $616K in retirement

Shutterstock 373239541

Former state school employee Ann Hudson, who retired in May 2016, saved $42,356 toward a pension over 12 years working for public schools, Teachers' Retirement System of the State of Illinois records show.

Over 30 years of retirement, Hudson would collect as much as $616,337, according to a projection by Local Government Information Services (LGIS), which publishes East Central Reporter.

The projection assumes Hudson received $12,954 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 4 years of retirement, Hudson will have already received $54,195 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

!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

MORE NEWS