Former state school employee Hendrick paid in $20K to teachers' pension fund, could collect $381K in retirement

Former state school employee James Hendrick, who retired in June 2018, saved $19,919 toward a pension over 4 years working for public schools, Teachers' Retirement System of the State of Illinois records show.

Over 30 years of retirement, Hendrick would collect as much as $381,187, according to a projection by Local Government Information Services (LGIS), which publishes DuPage Policy Journal.

The projection assumes Hendrick received $8,012 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Hendrick will have already received $24,764 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.