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North Cook News

Sunday, April 27, 2025

Former state school employee Harris paid in $284K to teachers' pension fund, could collect $5.43M in retirement

Money272

Former state school employee Robert Harris, who retired in June 2016, saved $284,261 toward a pension over 33 years working for public schools, Teachers' Retirement System of the State of Illinois records show.

Over 30 years of retirement, Harris would collect as much as $5.43 million, according to a projection by Local Government Information Services (LGIS), which publishes North Cook News.

The projection assumes Harris received $114,066 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Harris will have already received $352,567 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

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