Former state school employee Anderson paid in $241K to teachers' pension fund, could collect $5.02M in retirement

Former state school employee Sharon Anderson, who retired in May 2018, saved $240,638 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, Anderson would collect as much as $5.02 million, according to a projection by Local Government Information Services (LGIS), which publishes DuPage Policy Journal.

The projection assumes Anderson received $105,474 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Anderson will have already received $326,009 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.