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McHenry Times

Friday, April 19, 2024

Former state school employee French paid in $95K to teachers' pension fund, could collect $2.03M in retirement

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Former state school employee Robert French, who retired in March 2018, saved $94,953 toward a pension over 22 years working for public schools, Teachers' Retirement System of the State of Illinois records show.

Over 30 years of retirement, French would collect as much as $2.03 million, according to a projection by Local Government Information Services (LGIS), which publishes McHenry Times.

The projection assumes French received $42,758 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, French will have already received $132,161 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

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