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South Cook News

Friday, April 26, 2024

Former state school employee Hensley paid in $22K to teachers' pension fund, could collect $625K in retirement

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Former state school employee Justine Hensley, who retired in August 2018, saved $22,057 toward a pension over 10 years working for public schools, Teachers' Retirement System of the State of Illinois records show.

Over 30 years of retirement, Hensley would collect as much as $624,884, according to a projection by Local Government Information Services (LGIS), which publishes South Cook News.

The projection assumes Hensley received $13,134 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 2 years of retirement, Hensley will have already received $26,662 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

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