Former state school employee Hubbard paid in $37K to teachers' pension fund, could collect $751K in retirement

By Local Labs News Service

Mar 1, 2016

Former state school employee Terese Hubbard, who retired in February 2016, saved $37,288 toward a pension over 10 years working for public schools, Teachers' Retirement System of the State of Illinois records show.

Over 30 years of retirement, Hubbard would collect as much as $751,482, according to a projection by Local Government Information Services (LGIS), which publishes Will County Gazette.

The projection assumes Hubbard received $15,795 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Hubbard will have already received $48,821 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

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Joliet Public School District 86

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