Quantcast

North Cook News

Friday, April 19, 2024

Former state school employee Hunsicker paid in $129K to teachers' pension fund, could collect $2.61M in retirement

Shutterstock 121161052

Former state school employee Linda Hunsicker, who retired in June 2017, saved $128,816 toward a pension over 21 years working for public schools, Teachers' Retirement System of the State of Illinois records show.

Over 30 years of retirement, Hunsicker would collect as much as $2.61 million, according to a projection by Local Government Information Services (LGIS), which publishes North Cook News.

The projection assumes Hunsicker received $54,855 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Hunsicker will have already received $169,552 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

MORE NEWS