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Metro East Sun

Saturday, July 19, 2025

Former state school employee Craft paid in $88K to teachers' pension fund, could collect $1.42M in retirement

Money 01

Former state school employee William Craft, who retired in November 2016, saved $88,355 toward a pension over 19 years working for public schools, Teachers' Retirement System of the State of Illinois records show.

Over 30 years of retirement, Craft would collect as much as $1.42 million, according to a projection by Local Government Information Services (LGIS), which publishes Metro East Sun.

The projection assumes Craft received $29,915 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Craft will have already received $92,463 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

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