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South Cook News

Saturday, October 4, 2025

Former state school employee Fajman paid in $133K to teachers' pension fund, could collect $2.31M in retirement

Money 03

Former state school employee Joseph Fajman, who retired in June 2017, saved $132,701 toward a pension over 20 years working for public schools, Teachers' Retirement System of the State of Illinois records show.

Over 30 years of retirement, Fajman would collect as much as $2.31 million, according to a projection by Local Government Information Services (LGIS), which publishes South Cook News.

The projection assumes Fajman received $48,472 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Fajman will have already received $149,822 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

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