Former state school employee Hoyland paid in $90K to teachers' pension fund, could collect $1.86M in retirement

By Local Labs News Service

Jul 1, 2016

Former state school employee Julia Hoyland, who retired in June 2016, saved $90,240 toward a pension over 15 years working for public schools, Teachers' Retirement System of the State of Illinois records show.

Over 30 years of retirement, Hoyland would collect as much as $1.86 million, according to a projection by Local Government Information Services (LGIS), which publishes Sangamon Sun.

The projection assumes Hoyland received $39,200 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Hoyland will have already received $121,163 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

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Sangamon Area Special Education District

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