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Kendall County Times

Saturday, November 23, 2024

Former state school employee Hurd paid in $98K to teachers' pension fund, could collect $2.04M in retirement

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Former state school employee Claire Hurd, who retired in June 2016, saved $97,858 toward a pension over 26 years working for public schools, Teachers' Retirement System of the State of Illinois records show.

Over 30 years of retirement, Hurd would collect as much as $2.04 million, according to a projection by Local Government Information Services (LGIS), which publishes Kendall County Times.

The projection assumes Hurd received $42,785 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Hurd will have already received $132,245 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

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