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DeKalb Times

Friday, November 22, 2024

Former state school employee Hintzsche paid in $136K to teachers' pension fund, could collect $2.71M in retirement

Money272

Former state school employee Lori Hintzsche, who retired in June 2016, saved $136,439 toward a pension over 24 years working for public schools, Teachers' Retirement System of the State of Illinois records show.

Over 30 years of retirement, Hintzsche would collect as much as $2.71 million, according to a projection by Local Government Information Services (LGIS), which publishes DeKalb Times.

The projection assumes Hintzsche received $56,921 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Hintzsche will have already received $175,938 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

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