Quantcast

Macon Reporter

Monday, April 21, 2025

Former state school employee Hecht paid in $111K to teachers' pension fund, could collect $2.41M in retirement

Shutterstock 385535740

Former state school employee Mary Hecht, who retired in May 2016, saved $110,733 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, Hecht would collect as much as $2.41 million, according to a projection by Local Government Information Services (LGIS), which publishes Macon Reporter.

The projection assumes Hecht received $50,656 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Hecht will have already received $156,573 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

!RECEIVE ALERTS

The next time we write about any of these orgs, we’ll email you a link to the story. You may edit your settings or unsubscribe at any time.
Sign-up

DONATE

Help support the Metric Media Foundation's mission to restore community based news.
Donate

MORE NEWS