Former state school employee Hazenbush paid in $31K to teachers' pension fund, could collect $2.31M in retirement

By Local Labs News Service

Jun 1, 2016

Former state school employee Margaret Hazenbush, who retired in May 2016, saved $30,849 toward a pension over 17 years working for public schools, Teachers' Retirement System of the State of Illinois records show.

Over 30 years of retirement, Hazenbush would collect as much as $2.31 million, according to a projection by Local Government Information Services (LGIS), which publishes South Cook News.

The projection assumes Hazenbush received $48,539 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 1 years of retirement, Hazenbush will have already received $48,539 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

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Bremen Community High School District 228 Board

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