Sangamon Sun

Sangamon Sun

Monday, February 17, 2020

Former state school employee Hartman paid in $98K to teachers' pension fund, could collect $1.72M in retirement

Schools

By Local Labs News Service | Oct 1, 2018

Money272

Former state school employee Jodi Hartman, who retired in September 2018, saved $97,585 toward a pension over 31 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 $1.72 million, according to a projection by Local Government Information Services (LGIS), which publishes Sangamon Sun.

The projection assumes Hartman received $36,096 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Hartman will have already received $111,569 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

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Princeton Elementary School District 115

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