Former state school employee Hendricks paid in $80K to teachers' pension fund, could collect $1.19M in retirement

By Local Labs News Service

Jan 1, 2019

Former state school employee Lydia Hendricks, who retired in December 2018, saved $80,346 toward a pension over 20 years working for public schools, Teachers' Retirement System of the State of Illinois records show.

Over 30 years of retirement, Hendricks would collect as much as $1.19 million, according to a projection by Local Government Information Services (LGIS), which publishes Rockford Sun.

The projection assumes Hendricks received $24,940 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 4 years of retirement, Hendricks will have already received $104,340 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

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Rockford School District 205

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