Former state school employee Hicks paid in $111K to teachers' pension fund, could collect $2.48M in retirement

By Local Labs News Service

Jun 1, 2016

Former state school employee Lisa Hicks, who retired in May 2016, saved $110,956 toward a pension over 34 years working for public schools, Teachers' Retirement System of the State of Illinois records show.

Over 30 years of retirement, Hicks would collect as much as $2.48 million, according to a projection by Local Government Information Services (LGIS), which publishes Southern Illinois News.

The projection assumes Hicks received $52,201 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Hicks will have already received $161,348 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

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Cobden Unit District 17

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