Former state school employee Hopkins paid in $197K to teachers' pension fund, could collect $4.64M in retirement

By Local Labs News Service

Jun 1, 2016

Former state school employee Elizabeth Hopkins, who retired in May 2016, saved $196,866 toward a pension over 45 years working for public schools, Teachers' Retirement System of the State of Illinois records show.

Over 30 years of retirement, Hopkins would collect as much as $4.64 million, according to a projection by Local Government Information Services (LGIS), which publishes Lake County Gazette.

The projection assumes Hopkins received $97,434 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 2 years of retirement, Hopkins will have already received $197,791 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

ORGANIZATIONS IN THIS STORY

Barrington Community Unit School District 220

!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