Former state school employee Handcock paid in $178K to teachers' pension fund, could collect $4.65M in retirement

By Local Labs News Service

Jul 1, 2016

Former state school employee Kay Handcock, who retired in June 2016, saved $177,905 toward a pension over 35 years working for public schools, Teachers' Retirement System of the State of Illinois records show.

Over 30 years of retirement, Handcock would collect as much as $4.65 million, according to a projection by Local Government Information Services (LGIS), which publishes Lake County Gazette.

The projection assumes Handcock received $97,830 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 2 years of retirement, Handcock will have already received $198,595 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

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Lincolnshire Prairie View School District 103

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