Quantcast

South Central Reporter

Saturday, November 23, 2024

Former state school employee Hevner paid in $102K to teachers' pension fund, could collect $1.96M in retirement

Money 02

Former state school employee Judy Hevner, who retired in May 2016, saved $102,309 toward a pension over 26 years working for public schools, Teachers' Retirement System of the State of Illinois records show.

Over 30 years of retirement, Hevner would collect as much as $1.96 million, according to a projection by Local Government Information Services (LGIS), which publishes South Central Reporter.

The projection assumes Hevner received $41,187 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Hevner will have already received $127,306 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

ORGANIZATIONS IN THIS STORY

!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