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McLean County Times

Monday, November 25, 2024

Former state school employee Hussey paid in $37K to teachers' pension fund, could collect $832K in retirement

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Former state school employee Robert Hussey, who retired in May 2016, saved $36,832 toward a pension over 14 years working for public schools, Teachers' Retirement System of the State of Illinois records show.

Over 30 years of retirement, Hussey would collect as much as $832,465, according to a projection by Local Government Information Services (LGIS), which publishes McLean County Times.

The projection assumes Hussey received $17,497 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Hussey will have already received $54,082 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

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