Former state school employee Hopson paid in $24K to teachers' pension fund, could collect $327K in retirement

By Local Labs News Service

Jul 1, 2017

Former state school employee Sharon Hopson, who retired in June 2017, saved $24,077 toward a pension over 5 years working for public schools, Teachers' Retirement System of the State of Illinois records show.

Over 30 years of retirement, Hopson would collect as much as $326,551, according to a projection by Local Government Information Services (LGIS), which publishes SE Illinois News.

The projection assumes Hopson received $6,863 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 4 years of retirement, Hopson will have already received $28,712 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

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Illinois State Board Of Education

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