Former state school employee Hyink paid in $140K to teachers' pension fund, could collect $2.97M in retirement

By Local Labs News Service

Jun 1, 2016

Former state school employee Meagan Hyink, who retired in May 2016, saved $139,862 toward a pension over 27 years working for public schools, Teachers' Retirement System of the State of Illinois records show.

Over 30 years of retirement, Hyink would collect as much as $2.97 million, according to a projection by Local Government Information Services (LGIS), which publishes Will County Gazette.

The projection assumes Hyink received $62,448 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Hyink will have already received $193,020 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

ORGANIZATIONS IN THIS STORY

Lockport Township High School District 205

!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