Quantcast

Rockford Sun

Saturday, June 14, 2025

Former state school employee Hall paid in $107K to teachers' pension fund, could collect $1.9M in retirement

Money041

Former state school employee Steven Hall, who retired in June 2017, saved $107,254 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, Hall would collect as much as $1.9 million, according to a projection by Local Government Information Services (LGIS), which publishes Rockford Sun.

The projection assumes Hall received $39,896 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Hall will have already received $123,315 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

MORE NEWS