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Chambana Sun

Saturday, November 23, 2024

Former state school employee Hackler paid in $112K to teachers' pension fund, could collect $2.23M in retirement

Money 05

Former state school employee Lisa Hackler, who retired in May 2016, saved $111,955 toward a pension over 37 years working for public schools, Teachers' Retirement System of the State of Illinois records show.

Over 30 years of retirement, Hackler would collect as much as $2.23 million, according to a projection by Local Government Information Services (LGIS), which publishes Chambana Sun.

The projection assumes Hackler received $46,842 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Hackler will have already received $144,783 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

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