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DeKalb Times

Thursday, November 21, 2024

Former state school employee Hirsch paid in $44K to teachers' pension fund, could collect $1.02M in retirement

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Former state school employee Beth Hirsch, who retired in August 2017, saved $44,299 toward a pension over 14 years working for public schools, Teachers' Retirement System of the State of Illinois records show.

Over 30 years of retirement, Hirsch would collect as much as $1.02 million, according to a projection by Local Government Information Services (LGIS), which publishes DeKalb Times.

The projection assumes Hirsch received $21,532 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Hirsch will have already received $66,553 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

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