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DeKalb Times

Friday, November 22, 2024

Former state school employee Hartman paid in $134K to teachers' pension fund, could collect $2.67M in retirement

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Former state school employee Cathy Hartman, who retired in May 2018, saved $134,166 toward a pension over 35 years working for public schools, Teachers' Retirement System of the State of Illinois records show.

Over 30 years of retirement, Hartman would collect as much as $2.67 million, according to a projection by Local Government Information Services (LGIS), which publishes DeKalb Times.

The projection assumes Hartman received $56,178 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Hartman will have already received $173,640 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

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