Crete Monee CUSD 201U Haley-Borodine paid in $15K to teachers pension fund, could collect $900K in retirement
Retired Crete Monee CUSD 201U employee Joanne Haley-Borodine saved $14,560 toward her pension over 9 years working for public schools, Illinois Teachers' Retirement Fund (TRS) records show.
Over 33 years of retirement, Haley-Borodine would collect as much as $984,000, according to a projection by Local Government Information Services (LGIS), which publishes Will County Gazette.
Haley-Borodine, 62, who currently lives in Crown Point, IN, earned $21,678 in her final year at Crete Monee CUSD 201U.
The projection assumes Haley-Borodine will receive 76.8 percent of that total - $16,646 - in her first year of retirement, then 3 percent annual increases thereafter, compounded.
After three years of retirement, Haley-Borodine will have already received $51,452 in retirement benefits, or more than the sum total of her contributions to the state teachers' pension fund.
According to the Illinois State Board of Education (ISBE), 22.1 percent of Crete Monee CUSD 201U students met or exceeded the standards for the "PARCC" exams. ISBE reported that 36.6 percent of district's graduates were deemed "college ready" last year.