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McHenry Times

Sunday, June 29, 2025

Former state school employee Raz paid in $74K to teachers' pension fund, could collect $1.01M in retirement

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Former state school employee Karen Raz, who retired in May 2017, saved $73,610 toward a pension over 14 years working for public schools, Teachers' Retirement System of the State of Illinois records show.

Over 30 years of retirement, Raz would collect as much as $1.01 million, according to a projection by Local Government Information Services (LGIS), which publishes McHenry Times.

The projection assumes Raz received $21,177 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 4 years of retirement, Raz will have already received $88,595 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

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