Quantcast

DeKalb Times

Saturday, November 23, 2024

Former state school employee Hursh paid in $110K to teachers' pension fund, could collect $2.13M in retirement

Money 03

Former state school employee Robert Hursh, who retired in June 2016, saved $110,352 toward a pension over 23 years working for public schools, Teachers' Retirement System of the State of Illinois records show.

Over 30 years of retirement, Hursh would collect as much as $2.13 million, according to a projection by Local Government Information Services (LGIS), which publishes DeKalb Times.

The projection assumes Hursh received $44,788 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Hursh will have already received $138,436 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

MORE NEWS