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Kane County Reporter

Wednesday, April 23, 2025

Former state school employee Pranger paid in $157K to teachers' pension fund, could collect $2.8M in retirement

Money 07

Former state school employee Carol Pranger, who retired in June 2016, saved $156,850 toward a pension over 29 years working for public schools, Teachers' Retirement System of the State of Illinois records show.

Over 30 years of retirement, Pranger would collect as much as $2.8 million, according to a projection by Local Government Information Services (LGIS), which publishes Kane County Reporter.

The projection assumes Pranger received $58,910 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Pranger will have already received $182,084 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

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