Quantcast

Kane County Reporter

Wednesday, April 23, 2025

Former state school employee Hicks paid in $149K to teachers' pension fund, could collect $3.41M in retirement

Shutterstock 267646277

Former state school employee Matt Hicks, who retired in June 2016, saved $149,156 toward a pension over 32 years working for public schools, Teachers' Retirement System of the State of Illinois records show.

Over 30 years of retirement, Hicks would collect as much as $3.41 million, according to a projection by Local Government Information Services (LGIS), which publishes Kane County Reporter.

The projection assumes Hicks received $71,729 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Hicks will have already received $221,707 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

MORE NEWS