Quantcast

Will County Gazette

Monday, November 25, 2024

Former state school employee Hernandez paid in $43K to teachers' pension fund, could collect $1.03M in retirement

Money 06

Former state school employee Janet Hernandez, who retired in March 2017, saved $42,637 toward a pension over 11 years working for public schools, Teachers' Retirement System of the State of Illinois records show.

Over 30 years of retirement, Hernandez would collect as much as $1.03 million, according to a projection by Local Government Information Services (LGIS), which publishes Will County Gazette.

The projection assumes Hernandez received $21,627 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 2 years of retirement, Hernandez will have already received $43,903 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

ORGANIZATIONS IN THIS STORY

!RECEIVE ALERTS

The next time we write about any of these orgs, we’ll email you a link to the story. You may edit your settings or unsubscribe at any time.
Sign-up

DONATE

Help support the Metric Media Foundation's mission to restore community based news.
Donate

MORE NEWS