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Kankakee Times

Wednesday, August 6, 2025

Former state school employee Hanson paid in $35K to teachers' pension fund, could collect $1.2M in retirement

Money759

Former state school employee Karen Hanson, who retired in January 2016, saved $34,882 toward a pension over 14 years working for public schools, Teachers' Retirement System of the State of Illinois records show.

Over 30 years of retirement, Hanson would collect as much as $1.2 million, according to a projection by Local Government Information Services (LGIS), which publishes Kankakee Times.

The projection assumes Hanson received $25,282 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 2 years of retirement, Hanson will have already received $51,322 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

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