Former state school employee Herbeck paid in $144K to teachers' pension fund, could collect $2.6M in retirement

By Local Labs News Service

Jul 1, 2018

Former state school employee Sheri Herbeck, who retired in June 2018, saved $143,845 toward a pension over 27 years working for public schools, Teachers' Retirement System of the State of Illinois records show.

Over 30 years of retirement, Herbeck would collect as much as $2.6 million, according to a projection by Local Government Information Services (LGIS), which publishes Metro East Sun.

The projection assumes Herbeck received $54,729 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Herbeck will have already received $169,162 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

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Belleville School District 118

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