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North Cook News

Thursday, April 18, 2024

Former state school employee Haberl paid in $24K to teachers' pension fund, could collect $378K in retirement

Money 04

Former state school employee Ann Haberl, who retired in March 2017, saved $24,090 toward a pension over 8 years working for public schools, Teachers' Retirement System of the State of Illinois records show.

Over 30 years of retirement, Haberl would collect as much as $377,784, according to a projection by Local Government Information Services (LGIS), which publishes North Cook News.

The projection assumes Haberl received $7,940 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Haberl will have already received $24,541 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

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