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South Cook News

Friday, June 6, 2025

Former state school employee Jefferson paid in $100K to teachers' pension fund, could collect $2.01M in retirement

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Former state school employee Joyce Jefferson, who retired in May 2016, saved $100,426 toward a pension over 25 years working for public schools, Teachers' Retirement System of the State of Illinois records show.

Over 30 years of retirement, Jefferson would collect as much as $2.01 million, according to a projection by Local Government Information Services (LGIS), which publishes South Cook News.

The projection assumes Jefferson received $42,171 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Jefferson will have already received $130,346 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

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