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Dupage Policy Journal

Friday, June 20, 2025

Former state school employee Richardson paid in $227K to teachers' pension fund, could collect $5.2M in retirement

Money 05

Former state school employee Kent Richardson, who retired in June 2017, saved $226,914 toward a pension over 35 years working for public schools, Teachers' Retirement System of the State of Illinois records show.

Over 30 years of retirement, Richardson would collect as much as $5.2 million, according to a projection by Local Government Information Services (LGIS), which publishes DuPage Policy Journal.

The projection assumes Richardson received $109,379 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Richardson will have already received $338,079 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

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