Quantcast

South Cook News

Saturday, July 26, 2025

Former state school employee Porod paid in $242K to teachers' pension fund, could collect $5.73M in retirement

Money836

Former state school employee Gregory Porod, who retired in June 2018, saved $242,244 toward a pension over 34 years working for public schools, Teachers' Retirement System of the State of Illinois records show.

Over 30 years of retirement, Porod would collect as much as $5.73 million, according to a projection by Local Government Information Services (LGIS), which publishes South Cook News.

The projection assumes Porod received $120,475 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 2 years of retirement, Porod will have already received $244,564 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

MORE NEWS