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North Cook News

Tuesday, April 1, 2025

Former state school employee Hurley paid in $268K to teachers' pension fund, could collect $5.59M in retirement

Money 02

Former state school employee Michael Hurley, who retired in June 2018, saved $268,059 toward a pension over 35 years working for public schools, Teachers' Retirement System of the State of Illinois records show.

Over 30 years of retirement, Hurley would collect as much as $5.59 million, according to a projection by Local Government Information Services (LGIS), which publishes North Cook News.

The projection assumes Hurley received $117,503 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Hurley will have already received $363,190 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

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