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Rockford Sun

Friday, April 18, 2025

Former state school employee Lewis paid in $129K to teachers' pension fund, could collect $2.42M in retirement

Money041

Former state school employee George Lewis, who retired in July 2016, saved $129,427 toward a pension over 21 years working for public schools, Teachers' Retirement System of the State of Illinois records show.

Over 30 years of retirement, Lewis would collect as much as $2.42 million, according to a projection by Local Government Information Services (LGIS), which publishes Rockford Sun.

The projection assumes Lewis received $50,934 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Lewis will have already received $157,432 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

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