Former state school employee Harness paid in $78K to teachers' pension fund, could collect $1.43M in retirement

By Local Labs News Service

Jun 1, 2017

Former state school employee Selma Harness, who retired in May 2017, saved $77,998 toward a pension over 27 years working for public schools, Teachers' Retirement System of the State of Illinois records show.

Over 30 years of retirement, Harness would collect as much as $1.43 million, according to a projection by Local Government Information Services (LGIS), which publishes SE Illinois News.

The projection assumes Harness received $29,994 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Harness will have already received $92,709 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

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Norris City-Omaha-Enfield High School

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