Former state school employee Hamer paid in $148K to teachers' pension fund, could collect $2.36M in retirement

By Rock Island Today Reports

Jun 1, 2018

Former state school employee Heidi Hamer, who retired in May 2018, saved $147,508 toward a pension over 32 years working for public schools, Teachers' Retirement System of the State of Illinois records show.

Over 30 years of retirement, Hamer would collect as much as $2.36 million, according to a projection by Local Government Information Services (LGIS), which publishes Rock Island Today.

The projection assumes Hamer received $49,694 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Hamer will have already received $153,600 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

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Geneseo Community Unit School District 228

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