Former state school employee Hyde paid in $139K to teachers' pension fund, could collect $2.97M in retirement

By Local Labs News Service

Jul 1, 2016

Former state school employee Carol Hyde, who retired in June 2016, saved $139,346 toward a pension over 24 years working for public schools, Teachers' Retirement System of the State of Illinois records show.

Over 30 years of retirement, Hyde would collect as much as $2.97 million, according to a projection by Local Government Information Services (LGIS), which publishes North Cook News.

The projection assumes Hyde received $62,445 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Hyde will have already received $193,011 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

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Northbrook School District 28

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