Quantcast

Peoria Standard

Friday, March 14, 2025

Former state school employee Hanlon paid in $127K to teachers' pension fund, could collect $2.78M in retirement

Money 03

Former state school employee Donna Hanlon, who retired in June 2017, saved $127,242 toward a pension over 42 years working for public schools, Teachers' Retirement System of the State of Illinois records show.

Over 30 years of retirement, Hanlon would collect as much as $2.78 million, according to a projection by Local Government Information Services (LGIS), which publishes Peoria Standard.

The projection assumes Hanlon received $58,382 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Hanlon will have already received $180,452 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

ORGANIZATIONS IN THIS STORY

!RECEIVE ALERTS

The next time we write about any of these orgs, we’ll email you a link to the story. You may edit your settings or unsubscribe at any time.
Sign-up

DONATE

Help support the Metric Media Foundation's mission to restore community based news.
Donate

MORE NEWS