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Metro East Sun

Friday, June 27, 2025

Former state school employee Sims paid in $72K to teachers' pension fund, could collect $1.02M in retirement

Money759

Former state school employee Wayne Sims, who retired in May 2018, saved $72,277 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, Sims would collect as much as $1.02 million, according to a projection by Local Government Information Services (LGIS), which publishes Metro East Sun.

The projection assumes Sims received $21,367 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 4 years of retirement, Sims will have already received $89,391 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

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