Former state school employee Hurd paid in $42K to teachers' pension fund, could collect $1.2M in retirement

By Local Labs News Service

Sep 1, 2018

Former state school employee Mary Hurd, who retired in August 2018, saved $42,441 toward a pension over 13 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 $1.2 million, according to a projection by Local Government Information Services (LGIS), which publishes NW Illinois News.

The projection assumes Hurd received $25,216 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 2 years of retirement, Hurd will have already received $51,188 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

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