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North Cook News

Monday, July 7, 2025

Former state school employee Farlee paid in $199K to teachers' pension fund, could collect $3.55M in retirement

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Former state school employee Ann Farlee, who retired in June 2016, saved $199,456 toward a pension over 32 years working for public schools, Teachers' Retirement System of the State of Illinois records show.

Over 30 years of retirement, Farlee would collect as much as $3.55 million, according to a projection by Local Government Information Services (LGIS), which publishes North Cook News.

The projection assumes Farlee received $74,643 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Farlee will have already received $230,713 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

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