Former state school employee Hefner paid in $22K to teachers' pension fund, could collect $768K in retirement

By Local Labs News Service

Apr 1, 2017

Former state school employee Cynthia Hefner, who retired in March 2017, saved $22,029 toward a pension over 13 years working for public schools, Teachers' Retirement System of the State of Illinois records show.

Over 30 years of retirement, Hefner would collect as much as $767,558, according to a projection by Local Government Information Services (LGIS), which publishes Southern Illinois News.

The projection assumes Hefner received $16,133 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 2 years of retirement, Hefner will have already received $32,750 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

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