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Sangamon Sun

Tuesday, November 5, 2024

Former state school employee Hazelrigg paid in $142K to teachers' pension fund, could collect $2.56M in retirement

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Former state school employee Karen Hazelrigg, who retired in July 2017, saved $142,177 toward a pension over 20 years working for public schools, Teachers' Retirement System of the State of Illinois records show.

Over 30 years of retirement, Hazelrigg would collect as much as $2.56 million, according to a projection by Local Government Information Services (LGIS), which publishes Sangamon Sun.

The projection assumes Hazelrigg received $53,735 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Hazelrigg will have already received $166,089 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

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