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West Central Reporter

Monday, May 20, 2024

Former state school employee Haley paid in $57K to teachers' pension fund, could collect $1.26M in retirement

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Former state school employee Lisa Haley, who retired in November 2016, saved $56,870 toward a pension over 22 years working for public schools, Teachers' Retirement System of the State of Illinois records show.

Over 30 years of retirement, Haley would collect as much as $1.26 million, according to a projection by Local Government Information Services (LGIS), which publishes West Central Reporter.

The projection assumes Haley received $26,489 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Haley will have already received $81,876 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

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