Former state school employee Hasso paid in $12K to teachers' pension fund, could collect $217K in retirement

Former state school employee Ronald Hasso, who retired in May 2018, saved $12,468 toward a pension over 10 years working for public schools, Teachers' Retirement System of the State of Illinois records show.

Over 30 years of retirement, Hasso would collect as much as $217,029, according to a projection by Local Government Information Services (LGIS), which publishes DuPage Policy Journal.

The projection assumes Hasso received $4,561 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Hasso will have already received $14,098 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.