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McLean County Times

Friday, November 22, 2024

Former state school employee Hayden paid in $3K to teachers' pension fund, could collect $68K in retirement

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Former state school employee Brenda Hayden, who retired in October 2017, saved $3,165 toward a pension over 2 years working for public schools, Teachers' Retirement System of the State of Illinois records show.

Over 30 years of retirement, Hayden would collect as much as $67,903, according to a projection by Local Government Information Services (LGIS), which publishes McLean County Times.

The projection assumes Hayden received $1,427 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Hayden will have already received $4,411 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

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