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South Cook News

Saturday, April 5, 2025

Former state school employee Stewart paid in $171K to teachers' pension fund, could collect $3.75M in retirement

Money041

Former state school employee Baxter Stewart, who retired in May 2018, saved $171,299 toward a pension over 32 years working for public schools, Teachers' Retirement System of the State of Illinois records show.

Over 30 years of retirement, Stewart would collect as much as $3.75 million, according to a projection by Local Government Information Services (LGIS), which publishes South Cook News.

The projection assumes Stewart received $78,761 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Stewart will have already received $243,443 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

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