Quantcast

McHenry Times

Wednesday, July 16, 2025

Former state school employee Hart paid in $72K to teachers' pension fund, could collect $1.43M in retirement

Shutterstock 381111379

Former state school employee John Hart, who retired in September 2017, saved $72,168 toward a pension over 20 years working for public schools, Teachers' Retirement System of the State of Illinois records show.

Over 30 years of retirement, Hart would collect as much as $1.43 million, according to a projection by Local Government Information Services (LGIS), which publishes McHenry Times.

The projection assumes Hart received $30,068 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Hart will have already received $92,937 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

MORE NEWS