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Lake County Gazette

Saturday, May 4, 2024

Former state school employee Hebson paid in $380K to teachers' pension fund, could collect $10.01M in retirement

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Former state school employee Suzan Hebson, who retired in July 2017, saved $379,772 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, Hebson would collect as much as $10.01 million, according to a projection by Local Government Information Services (LGIS), which publishes Lake County Gazette.

The projection assumes Hebson received $210,445 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 2 years of retirement, Hebson will have already received $427,203 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

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