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West Cook News

Friday, April 19, 2024

Former state university employee Hildebrand paid in $188K to pension fund, could collect $4.88M in retirement

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Former state university employee Lesa Hildebrand, who retired in September 2016, saved $188,395 toward a pension over 36 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Hildebrand would collect as much as $4.88 million, according to a projection by Local Government Information Services (LGIS), which publishes West Cook News.

The projection assumes Hildebrand received $102,612 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 2 years of retirement, Hildebrand will have already received $208,302 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.

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