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Rockford Sun

Friday, November 22, 2024

Former state school employee Crow paid in $186K to teachers' pension fund, could collect $5.01M in retirement

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Former state school employee James Crow, who retired in June 2016, saved $185,966 toward a pension over 43 years working for public schools, Teachers' Retirement System of the State of Illinois records show.

Over 30 years of retirement, Crow would collect as much as $5.01 million, according to a projection by Local Government Information Services (LGIS), which publishes Rockford Sun.

The projection assumes Crow received $105,312 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 2 years of retirement, Crow will have already received $213,783 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

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