Former state school employee Harmeyer paid in $116K to teachers' pension fund, could collect $3.13M in retirement

By West Cook News

Jul 1, 2016

Former state school employee Louanne Harmeyer, who retired in June 2016, saved $116,435 toward a pension over 32 years working for public schools, Teachers' Retirement System of the State of Illinois records show.

Over 30 years of retirement, Harmeyer would collect as much as $3.13 million, according to a projection by Local Government Information Services (LGIS), which publishes West Cook News.

The projection assumes Harmeyer received $65,745 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 2 years of retirement, Harmeyer will have already received $133,462 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

ORGANIZATIONS IN THIS STORY

Proviso Township High School District 209

!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