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West Cook News

Sunday, September 21, 2025

Former state school employee Larson paid in $258K to teachers' pension fund, could collect $6.25M in retirement

Money 03

Former state school employee Craig Larson, who retired in June 2017, saved $257,714 toward a pension over 38 years working for public schools, Teachers' Retirement System of the State of Illinois records show.

Over 30 years of retirement, Larson would collect as much as $6.25 million, according to a projection by Local Government Information Services (LGIS), which publishes West Cook News.

The projection assumes Larson received $131,307 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 2 years of retirement, Larson will have already received $266,553 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

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