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Peoria Standard

Tuesday, April 23, 2024

Former state school employee Duke paid in $58K to teachers' pension fund, could collect $849K in retirement

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Former state school employee Hilary Duke, who retired in June 2018, saved $57,715 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, Duke would collect as much as $849,432, according to a projection by Local Government Information Services (LGIS), which publishes Peoria Standard.

The projection assumes Duke received $17,854 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 4 years of retirement, Duke will have already received $74,696 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

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