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Metro East Sun

Friday, October 3, 2025

Former state school employee Craft paid in $162K to teachers' pension fund, could collect $2.55M in retirement

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Former state school employee Greg Craft, who retired in May 2016, saved $161,588 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, Craft would collect as much as $2.55 million, according to a projection by Local Government Information Services (LGIS), which publishes Metro East Sun.

The projection assumes Craft received $53,692 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Craft will have already received $165,957 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

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