Quantcast

South Cook News

Tuesday, November 26, 2024

Former state school employee Hawist paid in $2K to teachers' pension fund, could collect $106K in retirement

Shutterstock 121161052

Former state school employee C. Hawist, who retired in February 2017, saved $1,826 toward a pension over 1 years working for public schools, Teachers' Retirement System of the State of Illinois records show.

Over 30 years of retirement, Hawist would collect as much as $105,628, according to a projection by Local Government Information Services (LGIS), which publishes South Cook News.

The projection assumes Hawist received $2,220 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 1 years of retirement, Hawist will have already received $2,220 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

ORGANIZATIONS IN THIS STORY

!RECEIVE ALERTS

The next time we write about any of these orgs, we’ll email you a link to the story. You may edit your settings or unsubscribe at any time.
Sign-up

DONATE

Help support the Metric Media Foundation's mission to restore community based news.
Donate

MORE NEWS