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McHenry Times

Saturday, April 5, 2025

Former state school employee Wilson paid in $98K to teachers' pension fund, could collect $2.16M in retirement

Money 06

Former state school employee Frances Wilson, who retired in June 2016, saved $97,985 toward a pension over 25 years working for public schools, Teachers' Retirement System of the State of Illinois records show.

Over 30 years of retirement, Wilson would collect as much as $2.16 million, according to a projection by Local Government Information Services (LGIS), which publishes McHenry Times.

The projection assumes Wilson received $45,409 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Wilson will have already received $140,354 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

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