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Will County Gazette

Saturday, November 30, 2024

Former state school employee Hilden paid in $21K to teachers' pension fund, could collect $846K in retirement

Money 06

Former state school employee Kimberly Hilden, who retired in August 2017, saved $20,850 toward a pension over 8 years working for public schools, Teachers' Retirement System of the State of Illinois records show.

Over 30 years of retirement, Hilden would collect as much as $846,012, according to a projection by Local Government Information Services (LGIS), which publishes Will County Gazette.

The projection assumes Hilden received $17,782 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 2 years of retirement, Hilden will have already received $36,097 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

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