Quantcast

Metro East Sun

Saturday, April 19, 2025

Former state school employee Hauer paid in $122K to teachers' pension fund, could collect $2.33M in retirement

Shutterstock 249974521

Former state school employee Carol Hauer, who retired in May 2016, saved $121,634 toward a pension over 25 years working for public schools, Teachers' Retirement System of the State of Illinois records show.

Over 30 years of retirement, Hauer would collect as much as $2.33 million, according to a projection by Local Government Information Services (LGIS), which publishes Metro East Sun.

The projection assumes Hauer received $49,016 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Hauer will have already received $151,503 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

MORE NEWS