Quantcast

Sangamon Sun

Sunday, June 15, 2025

Former state school employee Harris paid in $114K to teachers' pension fund, could collect $2.66M in retirement

Money759

Former state school employee Jeffrey Harris, who retired in May 2018, saved $113,853 toward a pension over 29 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 $2.66 million, according to a projection by Local Government Information Services (LGIS), which publishes Sangamon Sun.

The projection assumes Harris received $55,933 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Harris will have already received $172,883 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

MORE NEWS