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North Cook News

Tuesday, June 3, 2025

Former state school employee Craven paid in $106K to teachers' pension fund, could collect $2.05M in retirement

Money041

Former state school employee Patricia Craven, who retired in May 2018, saved $106,111 toward a pension over 24 years working for public schools, Teachers' Retirement System of the State of Illinois records show.

Over 30 years of retirement, Craven would collect as much as $2.05 million, according to a projection by Local Government Information Services (LGIS), which publishes North Cook News.

The projection assumes Craven received $43,114 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Craven will have already received $133,260 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

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