Dupage Policy Journal

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Friday, December 6, 2019

Former state school employee Hatfill paid in $69K to teachers' pension fund, could collect $1.4M in retirement

Schools

By Local Labs News Service | Oct 1, 2018

Money272

Former state school employee David Hatfill, who retired in September 2018, saved $69,131 toward a pension over 23 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 $1.4 million, according to a projection by Local Government Information Services (LGIS), which publishes DuPage Policy Journal.

The projection assumes Hatfill received $29,408 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Hatfill will have already received $90,897 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

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Illinois State Board of Education

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