Quantcast

Dupage Policy Journal

Wednesday, April 24, 2024

Former state school employee Hilali paid in $163K to teachers' pension fund, could collect $2.67M in retirement

Shutterstock 443523118

Former state school employee Mahjoub Hilali, who retired in May 2016, saved $163,014 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, Hilali would collect as much as $2.67 million, according to a projection by Local Government Information Services (LGIS), which publishes DuPage Policy Journal.

The projection assumes Hilali received $56,019 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Hilali will have already received $173,150 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

ORGANIZATIONS IN THIS STORY

!RECEIVE ALERTS

The next time we write about any of these orgs, we’ll email you a link to the story. You may edit your settings or unsubscribe at any time.
Sign-up

DONATE

Help support the Metric Media Foundation's mission to restore community based news.
Donate

MORE NEWS