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North Cook News

Sunday, April 27, 2025

Former state school employee Gross paid in $137K to teachers' pension fund, could collect $2.37M in retirement

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Former state school employee Richard Gross, who retired in February 2018, saved $137,002 toward a pension over 19 years working for public schools, Teachers' Retirement System of the State of Illinois records show.

Over 30 years of retirement, Gross would collect as much as $2.37 million, according to a projection by Local Government Information Services (LGIS), which publishes North Cook News.

The projection assumes Gross received $49,801 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Gross will have already received $153,930 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

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