William Haine retired from the Illinois state Senate this year.
William Haine retired from the Illinois state Senate this year.
Retiring state Sen. William Haine (D-Alton) will reap a payout of more than $730,000 over the next decade from the General Assembly’s pension fund, even though he paid only $143,001 into the system, according to the Illinois State Retirement System.
Over the next five years, Haine, 74, will collect an estimated $344,867 from the General Assembly Retirement System (GARS). He will recoup the contributions to the system he made as a legislator after only 27 months of retirement, the numbers show.
The senator will begin collecting the pension this month. And every Jan. 1 thereafter, he will receive a cost-of-living adjustment of 3 percent.
The legislative pension will be on top of retirement payouts Haine has be receiving since 2002 – when he was 58 -- from the Illinois Municipal Retirement Fund (IMRF). The senator, a former Madison County state’s attorney, public defender and county board member, has been receiving annual payments from the IMRF of nearly $150,000 a year as of 2016, according to a Taxpayers United of America pension report.
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GARS payment schedule for Sen. Haine
| Year | Age | Monthly Payout | Annual Payout |
| 2018 | 74 | $5,100 | $10,200 |
| 2019 | 75 | $5,253 | $63,036 |
| 2020 | 76 | $5,411 | $64,927 |
| 2021 | 77 | $5,573 | $66,875 |
| 2022 | 78 | $5,740 | $68,881 |
| 2023 | 79 | $5,912 | $70,948 |
| 2024 | 80 | $6,090 | $73,076 |
| 2025 | 81 | $6,272 | $75,268 |
| 2026 | 82 | $6,461 | $77,526 |
| 2027 | 83 | $6,654 | $79,852 |
| 2028 | 84 | $6,854 | $82,248 |
| 2029 | 85 | $7,060 | $84,715 |
| 2030 | 86 | $7,271 | $87,257 |
| Payments after: | 5 years | $344,867 | |
| Payments after: | 10 years | $732,837 |
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