Former state school employee Hubbard paid in $140K to teachers' pension fund, could collect $3.6M in retirement

By Local Labs News Service

Jun 1, 2018

Former state school employee Gina Hubbard, who retired in May 2018, saved $139,543 toward a pension over 23 years working for public schools, Teachers' Retirement System of the State of Illinois records show.

Over 30 years of retirement, Hubbard would collect as much as $3.6 million, according to a projection by Local Government Information Services (LGIS), which publishes North Cook News.

The projection assumes Hubbard received $75,762 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 2 years of retirement, Hubbard will have already received $153,797 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

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Palatine School District 211

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