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McHenry Times

Thursday, March 13, 2025

Former state school employee Hardt paid in $117K to teachers' pension fund, could collect $1.87M in retirement

Money 07

Former state school employee Matthew Hardt, who retired in May 2018, saved $117,128 toward a pension over 19 years working for public schools, Teachers' Retirement System of the State of Illinois records show.

Over 30 years of retirement, Hardt would collect as much as $1.87 million, according to a projection by Local Government Information Services (LGIS), which publishes McHenry Times.

The projection assumes Hardt received $39,275 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Hardt will have already received $121,395 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

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