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South Cook News

Tuesday, April 29, 2025

Former state school employee Knight Cody paid in $138K to teachers' pension fund, could collect $2.69M in retirement

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Former state school employee Lynn Knight Cody, who retired in June 2016, saved $137,607 toward a pension over 29 years working for public schools, Teachers' Retirement System of the State of Illinois records show.

Over 30 years of retirement, Knight Cody would collect as much as $2.69 million, according to a projection by Local Government Information Services (LGIS), which publishes South Cook News.

The projection assumes Knight Cody received $56,599 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Knight Cody will have already received $174,942 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

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