Quantcast

Lake County Gazette

Saturday, August 2, 2025

Former state school employee Hitt paid in $87K to teachers' pension fund, could collect $1.95M in retirement

Shutterstock 249974521

Former state school employee Barbara Hitt, who retired in June 2016, saved $86,752 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, Hitt would collect as much as $1.95 million, according to a projection by Local Government Information Services (LGIS), which publishes Lake County Gazette.

The projection assumes Hitt received $40,957 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Hitt will have already received $126,595 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

!RECEIVE ALERTS

The next time we write about any of these orgs, we’ll email you a link to the story. You may edit your settings or unsubscribe at any time.
Sign-up

DONATE

Help support the Metric Media Foundation's mission to restore community based news.
Donate

MORE NEWS