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Chambana Sun

Friday, June 27, 2025

Former state school employee Geiger paid in $66K to teachers' pension fund, could collect $908K in retirement

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Former state school employee Richard Geiger, who retired in June 2018, saved $66,019 toward a pension over 14 years working for public schools, Teachers' Retirement System of the State of Illinois records show.

Over 30 years of retirement, Geiger would collect as much as $907,898, according to a projection by Local Government Information Services (LGIS), which publishes Chambana Sun.

The projection assumes Geiger received $19,083 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 4 years of retirement, Geiger will have already received $79,835 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

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