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West Cook News

Monday, July 14, 2025

Former state school employee Hope paid in $62K to teachers' pension fund, could collect $870K in retirement

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Former state school employee Jerome Hope, who retired in June 2017, saved $62,002 toward a pension over 12 years working for public schools, Teachers' Retirement System of the State of Illinois records show.

Over 30 years of retirement, Hope would collect as much as $870,327, according to a projection by Local Government Information Services (LGIS), which publishes West Cook News.

The projection assumes Hope received $18,293 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 4 years of retirement, Hope will have already received $76,531 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

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