Former state school employee Anderson paid in $123K to teachers' pension fund, could collect $1.84M in retirement

Former state school employee Sarah Anderson, who retired in June 2017, saved $122,701 toward a pension over 17 years working for public schools, Teachers' Retirement System of the State of Illinois records show.

Over 30 years of retirement, Anderson would collect as much as $1.84 million, according to a projection by Local Government Information Services (LGIS), which publishes DuPage Policy Journal.

The projection assumes Anderson received $38,678 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 4 years of retirement, Anderson will have already received $161,813 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.