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Metro East Sun

Thursday, April 24, 2025

Former state school employee Reeves paid in $73K to teachers' pension fund, could collect $1.3M in retirement

Money041

Former state school employee Holly Reeves, who retired in May 2016, saved $72,555 toward a pension over 18 years working for public schools, Teachers' Retirement System of the State of Illinois records show.

Over 30 years of retirement, Reeves would collect as much as $1.3 million, according to a projection by Local Government Information Services (LGIS), which publishes Metro East Sun.

The projection assumes Reeves received $27,381 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Reeves will have already received $84,631 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

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