Former state school employee Hamilton paid in $42K to teachers' pension fund, could collect $1.28M in retirement

By Local Labs News Service

Aug 1, 2017

Former state school employee Marie Hamilton, who retired in July 2017, saved $42,179 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, Hamilton would collect as much as $1.28 million, according to a projection by Local Government Information Services (LGIS), which publishes SE Illinois News.

The projection assumes Hamilton received $26,962 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 2 years of retirement, Hamilton will have already received $54,733 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

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New Hope Community Consolidated School District 6

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