Quantcast

North Cook News

Sunday, April 6, 2025

Former state school employee Adair paid in $266K to teachers' pension fund, could collect $5.41M in retirement

Shutterstock 385535740

Former state school employee James Adair, who retired in June 2016, saved $265,867 toward a pension over 35 years working for public schools, Teachers' Retirement System of the State of Illinois records show.

Over 30 years of retirement, Adair would collect as much as $5.41 million, according to a projection by Local Government Information Services (LGIS), which publishes North Cook News.

The projection assumes Adair received $113,708 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Adair will have already received $351,460 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

MORE NEWS