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Sangamon Sun

Monday, November 25, 2024

Former state school employee Huck paid in $9K to teachers' pension fund, could collect $122K in retirement

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Former state school employee U. Huck, who retired in November 2017, saved $8,957 toward a pension over 7 years working for public schools, Teachers' Retirement System of the State of Illinois records show.

Over 30 years of retirement, Huck would collect as much as $122,225, according to a projection by Local Government Information Services (LGIS), which publishes Sangamon Sun.

The projection assumes Huck received $2,569 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 4 years of retirement, Huck will have already received $10,747 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

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