Former state school employee Haney paid in $164K to teachers' pension fund, could collect $4.58M in retirement

By Local Labs News Service

Jul 1, 2016

Former state school employee Margaret Haney, who retired in June 2016, saved $163,947 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, Haney would collect as much as $4.58 million, according to a projection by Local Government Information Services (LGIS), which publishes South Cook News.

The projection assumes Haney received $96,209 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 2 years of retirement, Haney will have already received $195,304 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

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Thornton Fractional Township High School District 215

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