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Sangamon Sun

Friday, April 25, 2025

Former state school employee Franzoni paid in $94K to teachers' pension fund, could collect $1.38M in retirement

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Former state school employee Terry Franzoni, who retired in May 2017, saved $94,039 toward a pension over 24 years working for public schools, Teachers' Retirement System of the State of Illinois records show.

Over 30 years of retirement, Franzoni would collect as much as $1.38 million, according to a projection by Local Government Information Services (LGIS), which publishes Sangamon Sun.

The projection assumes Franzoni received $29,087 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 4 years of retirement, Franzoni will have already received $121,691 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

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