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West Cook News

Friday, November 22, 2024

Former state school employee Hapaniewski paid in $18K to teachers' pension fund, could collect $441K in retirement

Money 07

Former state school employee Vivian Hapaniewski, who retired in May 2016, saved $18,314 toward a pension over 5 years working for public schools, Teachers' Retirement System of the State of Illinois records show.

Over 30 years of retirement, Hapaniewski would collect as much as $441,006, according to a projection by Local Government Information Services (LGIS), which publishes West Cook News.

The projection assumes Hapaniewski received $9,269 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 2 years of retirement, Hapaniewski will have already received $18,816 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

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