Quantcast

Sangamon Sun

Monday, July 21, 2025

Former state school employee Stephenson paid in $129K to teachers' pension fund, could collect $2.35M in retirement

Shutterstock 65427295

Former state school employee Michele Stephenson, who retired in May 2018, saved $128,611 toward a pension over 31 years working for public schools, Teachers' Retirement System of the State of Illinois records show.

Over 30 years of retirement, Stephenson would collect as much as $2.35 million, according to a projection by Local Government Information Services (LGIS), which publishes Sangamon Sun.

The projection assumes Stephenson received $49,366 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Stephenson will have already received $152,585 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

MORE NEWS