Former state school employee Hoen paid in $206K to teachers' pension fund, could collect $4.59M in retirement

Former state school employee Beth Hoen, who retired in May 2017, saved $205,577 toward a pension over 35 years working for public schools, Teachers' Retirement System of the State of Illinois records show.

Over 30 years of retirement, Hoen would collect as much as $4.59 million, according to a projection by Local Government Information Services (LGIS), which publishes DuPage Policy Journal.

The projection assumes Hoen received $96,485 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Hoen will have already received $298,226 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.