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Lake County Gazette

Tuesday, April 16, 2024

Former state school employee Haney paid in $142K to teachers' pension fund, could collect $3.38M in retirement

Money 04

Former state school employee Robin Haney, who retired in June 2016, saved $141,886 toward a pension over 37 years working for public schools, Teachers' Retirement System of the State of Illinois records show.

Over 30 years of retirement, Haney would collect as much as $3.38 million, according to a projection by Local Government Information Services (LGIS), which publishes Lake County Gazette.

The projection assumes Haney received $71,054 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 2 years of retirement, Haney will have already received $144,240 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

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