Former state school employee Hildebrand paid in $54K to teachers' pension fund, could collect $853K in retirement

By Local Labs News Service

Oct 1, 2016

Former state school employee Paul Hildebrand, who retired in September 2016, saved $54,452 toward a pension over 20 years working for public schools, Teachers' Retirement System of the State of Illinois records show.

Over 30 years of retirement, Hildebrand would collect as much as $852,692, according to a projection by Local Government Information Services (LGIS), which publishes NW Illinois News.

The projection assumes Hildebrand received $17,922 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Hildebrand will have already received $55,396 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

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Montmorency Community Consolidated School District 145

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