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West Central Reporter

Friday, November 22, 2024

Former state school employee Hendrickson paid in $2K to teachers' pension fund, could collect $47K in retirement

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Former state school employee Vicki Hendrickson, who retired in July 2016, saved $1,561 toward a pension over 1 years working for public schools, Teachers' Retirement System of the State of Illinois records show.

Over 30 years of retirement, Hendrickson would collect as much as $47,042, according to a projection by Local Government Information Services (LGIS), which publishes West Central Reporter.

The projection assumes Hendrickson received $988 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 2 years of retirement, Hendrickson will have already received $2,006 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

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