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North Cook News

Monday, March 31, 2025

Former state school employee Johnson paid in $152K to teachers' pension fund, could collect $2.96M in retirement

Money272

Former state school employee Virginia Johnson, who retired in June 2016, saved $152,417 toward a pension over 27 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 $2.96 million, according to a projection by Local Government Information Services (LGIS), which publishes North Cook News.

The projection assumes Johnson received $62,217 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Johnson will have already received $192,308 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

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