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East Central Reporter

Thursday, December 26, 2024

Former state school employee Hall paid in $89K to teachers' pension fund, could collect $1.74M in retirement

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Former state school employee Catherine Hall, who retired in May 2016, saved $88,508 toward a pension over 25 years working for public schools, Teachers' Retirement System of the State of Illinois records show.

Over 30 years of retirement, Hall would collect as much as $1.74 million, according to a projection by Local Government Information Services (LGIS), which publishes East Central Reporter.

The projection assumes Hall received $36,510 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Hall will have already received $112,848 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

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