Quantcast

Kendall County Times

Saturday, November 23, 2024

Former state school employee Hooper paid in $85K to teachers' pension fund, could collect $1.31M in retirement

Money 03

Former state school employee Linda Hooper, who retired in May 2016, saved $85,140 toward a pension over 19 years working for public schools, Teachers' Retirement System of the State of Illinois records show.

Over 30 years of retirement, Hooper would collect as much as $1.31 million, according to a projection by Local Government Information Services (LGIS), which publishes Kendall County Times.

The projection assumes Hooper received $27,439 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 4 years of retirement, Hooper will have already received $114,794 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