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Sangamon Sun

Saturday, June 28, 2025

Former state school employee Stover paid in $120K to teachers' pension fund, could collect $1.76M in retirement

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Former state school employee Gary Stover, who retired in May 2017, saved $120,005 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, Stover would collect as much as $1.76 million, according to a projection by Local Government Information Services (LGIS), which publishes Sangamon Sun.

The projection assumes Stover received $37,022 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 4 years of retirement, Stover will have already received $154,887 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

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