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North Cook News

Monday, November 25, 2024

Former state school employee Hidder paid in $13K to teachers' pension fund, could collect $693K in retirement

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Former state school employee Kathleen Hidder, who retired in September 2016, saved $13,248 toward a pension over 7 years working for public schools, Teachers' Retirement System of the State of Illinois records show.

Over 30 years of retirement, Hidder would collect as much as $693,289, according to a projection by Local Government Information Services (LGIS), which publishes North Cook News.

The projection assumes Hidder received $14,572 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 1 years of retirement, Hidder will have already received $14,572 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

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