Former state school employee Hancock paid in $139K to teachers' pension fund, could collect $3.22M in retirement

By Rock Island Today Reports

Jul 1, 2018

Former state school employee Cynthia Hancock, who retired in June 2018, saved $138,896 toward a pension over 35 years working for public schools, Teachers' Retirement System of the State of Illinois records show.

Over 30 years of retirement, Hancock would collect as much as $3.22 million, according to a projection by Local Government Information Services (LGIS), which publishes Rock Island Today.

The projection assumes Hancock received $67,658 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Hancock will have already received $209,125 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

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Silvis School District 34 Board

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