Quantcast

Dupage Policy Journal

Friday, June 20, 2025

Former state school employee Hayes paid in $104K to teachers' pension fund, could collect $1.66M in retirement

Shutterstock 197358977

Former state school employee David Hayes, who retired in May 2018, saved $104,184 toward a pension over 17 years working for public schools, Teachers' Retirement System of the State of Illinois records show.

Over 30 years of retirement, Hayes would collect as much as $1.66 million, according to a projection by Local Government Information Services (LGIS), which publishes DuPage Policy Journal.

The projection assumes Hayes received $34,823 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Hayes will have already received $107,635 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

MORE NEWS