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Peoria Standard

Tuesday, November 26, 2024

Former state school employee Hurckes paid in $74K to teachers' pension fund, could collect $1.21M in retirement

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Former state school employee Yvonne Hurckes, who retired in May 2018, saved $73,844 toward a pension over 22 years working for public schools, Teachers' Retirement System of the State of Illinois records show.

Over 30 years of retirement, Hurckes would collect as much as $1.21 million, according to a projection by Local Government Information Services (LGIS), which publishes Peoria Standard.

The projection assumes Hurckes received $25,474 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Hurckes will have already received $78,737 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

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