Former state school employee Hanson paid in $9K to teachers' pension fund, could collect $107K in retirement

By Local Labs News Service

Jun 1, 2018

Former state school employee Scott Hanson, who retired in May 2018, saved $8,965 toward a pension over 5 years working for public schools, Teachers' Retirement System of the State of Illinois records show.

Over 30 years of retirement, Hanson would collect as much as $107,221, according to a projection by Local Government Information Services (LGIS), which publishes Lake County Gazette.

The projection assumes Hanson received $2,253 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 4 years of retirement, Hanson will have already received $9,428 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

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Community High School District 117

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