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McHenry Times

Monday, October 27, 2025

Former state school employee Lee paid in $159K to teachers' pension fund, could collect $3.32M in retirement

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Former state school employee Lars Lee, who retired in May 2017, saved $159,276 toward a pension over 36 years working for public schools, Teachers' Retirement System of the State of Illinois records show.

Over 30 years of retirement, Lee would collect as much as $3.32 million, according to a projection by Local Government Information Services (LGIS), which publishes McHenry Times.

The projection assumes Lee received $69,850 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Lee will have already received $215,900 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

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