Former state school employee Hubbard paid in $164K to teachers' pension fund, could collect $3.79M in retirement

By Local Labs News Service

Jun 1, 2016

Former state school employee Nancy Hubbard, who retired in May 2016, saved $163,630 toward a pension over 31 years working for public schools, Teachers' Retirement System of the State of Illinois records show.

Over 30 years of retirement, Hubbard would collect as much as $3.79 million, according to a projection by Local Government Information Services (LGIS), which publishes Kane County Reporter.

The projection assumes Hubbard received $79,640 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Hubbard will have already received $246,159 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

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Batavia Unit School District 101 Board

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