Quantcast

Lake County Gazette

Sunday, June 29, 2025

Former state school employee Holdcroft paid in $82K to teachers' pension fund, could collect $1.26M in retirement

Money041

Former state school employee William Holdcroft, who retired in July 2016, saved $81,927 toward a pension over 16 years working for public schools, Teachers' Retirement System of the State of Illinois records show.

Over 30 years of retirement, Holdcroft would collect as much as $1.26 million, according to a projection by Local Government Information Services (LGIS), which publishes Lake County Gazette.

The projection assumes Holdcroft received $26,429 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 4 years of retirement, Holdcroft will have already received $110,570 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

MORE NEWS