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Sangamon Sun

Wednesday, November 5, 2025

Former state school employee Regan paid in $182K to teachers' pension fund, could collect $4.43M in retirement

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Former state school employee Richard Regan, who retired in July 2016, saved $182,028 toward a pension over 41 years working for public schools, Teachers' Retirement System of the State of Illinois records show.

Over 30 years of retirement, Regan would collect as much as $4.43 million, according to a projection by Local Government Information Services (LGIS), which publishes Sangamon Sun.

The projection assumes Regan received $93,133 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 2 years of retirement, Regan will have already received $189,060 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

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