Sangamon Sun

Sangamon Sun

Sunday, October 20, 2019

Former state school employee Hempel paid in $60K to teachers' pension fund, could collect $873K in retirement


By Local Labs News Service | Jul 1, 2016

Former state school employee Kathleen Hempel, who retired in June 2016, saved $59,860 toward a pension over 9 years working for public schools, Teachers' Retirement System of the State of Illinois records show.

Over 30 years of retirement, Hempel would collect as much as $872,565, according to a projection by Local Government Information Services (LGIS), which publishes Sangamon Sun.

The projection assumes Hempel received $18,340 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 4 years of retirement, Hempel will have already received $76,728 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

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Barrington Community Unit School District 220

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