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Sangamon Sun

Saturday, May 4, 2024

Former state school employee Hinds paid in $82K to teachers' pension fund, could collect $1.29M in retirement

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Former state school employee Joanne Hinds, who retired in May 2017, saved $82,091 toward a pension over 14 years working for public schools, Teachers' Retirement System of the State of Illinois records show.

Over 30 years of retirement, Hinds would collect as much as $1.29 million, according to a projection by Local Government Information Services (LGIS), which publishes Sangamon Sun.

The projection assumes Hinds received $27,044 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Hinds will have already received $83,590 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

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