Former state school employee Hogan paid in $15K to teachers' pension fund, could collect $247K in retirement

By Local Labs News Service

Jun 1, 2017

Former state school employee Susan Hogan, who retired in May 2017, saved $14,849 toward a pension over 11 years working for public schools, Teachers' Retirement System of the State of Illinois records show.

Over 30 years of retirement, Hogan would collect as much as $246,670, according to a projection by Local Government Information Services (LGIS), which publishes Lake County Gazette.

The projection assumes Hogan received $5,184 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Hogan will have already received $16,024 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

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Libertyville School District 70 Board

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