Former state school employee Hagstrom paid in $162K to teachers' pension fund, could collect $2.99M in retirement

By Local Labs News Service

Jul 1, 2018

Former state school employee Barbara Hagstrom, who retired in June 2018, saved $161,845 toward a pension over 28 years working for public schools, Teachers' Retirement System of the State of Illinois records show.

Over 30 years of retirement, Hagstrom would collect as much as $2.99 million, according to a projection by Local Government Information Services (LGIS), which publishes Lake County Gazette.

The projection assumes Hagstrom received $62,797 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Hagstrom will have already received $194,099 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

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Special Education District Of Lake County

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