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Peoria Standard

Tuesday, November 26, 2024

Former state school employee Hatfill paid in $113K to teachers' pension fund, could collect $1.72M in retirement

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Former state school employee Kerry Hatfill, who retired in May 2018, saved $112,680 toward a pension over 30 years working for public schools, Teachers' Retirement System of the State of Illinois records show.

Over 30 years of retirement, Hatfill would collect as much as $1.72 million, according to a projection by Local Government Information Services (LGIS), which publishes Peoria Standard.

The projection assumes Hatfill received $36,075 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 4 years of retirement, Hatfill will have already received $150,924 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

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