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McLean County Times

Thursday, April 25, 2024

Former state school employee Hauck paid in $32K to teachers' pension fund, could collect $706K in retirement

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Former state school employee Julie Hauck, who retired in October 2017, saved $32,045 toward a pension over 11 years working for public schools, Teachers' Retirement System of the State of Illinois records show.

Over 30 years of retirement, Hauck would collect as much as $706,243, according to a projection by Local Government Information Services (LGIS), which publishes McLean County Times.

The projection assumes Hauck received $14,844 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Hauck will have already received $45,881 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

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