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South Cook News

Tuesday, April 29, 2025

Former state school employee Dagger paid in $128K to teachers' pension fund, could collect $2.22M in retirement

Money 01

Former state school employee John Dagger, who retired in May 2017, saved $128,118 toward a pension over 22 years working for public schools, Teachers' Retirement System of the State of Illinois records show.

Over 30 years of retirement, Dagger would collect as much as $2.22 million, according to a projection by Local Government Information Services (LGIS), which publishes South Cook News.

The projection assumes Dagger received $46,704 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Dagger will have already received $144,357 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

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