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North Cook News

Monday, July 28, 2025

Former state school employee Johnson paid in $194K to teachers' pension fund, could collect $4.5M in retirement

Money 04

Former state school employee Carol Johnson, who retired in June 2016, saved $194,074 toward a pension over 38 years working for public schools, Teachers' Retirement System of the State of Illinois records show.

Over 30 years of retirement, Johnson would collect as much as $4.5 million, according to a projection by Local Government Information Services (LGIS), which publishes North Cook News.

The projection assumes Johnson received $94,527 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Johnson will have already received $292,174 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

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