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Chambana Sun

Friday, April 19, 2024

Former state school employee Humrichous paid in $129K to teachers' pension fund, could collect $2.43M in retirement

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Former state school employee James Humrichous, who retired in May 2018, saved $128,591 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, Humrichous would collect as much as $2.43 million, according to a projection by Local Government Information Services (LGIS), which publishes Chambana Sun.

The projection assumes Humrichous received $51,153 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Humrichous will have already received $158,110 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

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