Former state school employee Hancock paid in $31K to teachers' pension fund, could collect $412K in retirement

By Local Labs News Service

Jun 1, 2017

Former state school employee Linda Hancock, who retired in May 2017, saved $30,627 toward a pension over 12 years working for public schools, Teachers' Retirement System of the State of Illinois records show.

Over 30 years of retirement, Hancock would collect as much as $411,651, according to a projection by Local Government Information Services (LGIS), which publishes SE Illinois News.

The projection assumes Hancock received $8,652 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 4 years of retirement, Hancock will have already received $36,197 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

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Carrier Mills-Stonefort Community Unit School District Board

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