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North Cook News

Tuesday, July 29, 2025

Former state school employee Franks paid in $129K to teachers' pension fund, could collect $2.74M in retirement

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Former state school employee Shelley Franks, who retired in June 2016, saved $128,811 toward a pension over 22 years working for public schools, Teachers' Retirement System of the State of Illinois records show.

Over 30 years of retirement, Franks would collect as much as $2.74 million, according to a projection by Local Government Information Services (LGIS), which publishes North Cook News.

The projection assumes Franks received $57,693 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Franks will have already received $178,324 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

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