Former state school employee Andrews paid in $13K to teachers' pension fund, could collect $277K in retirement

Former state school employee Joan Andrews, who retired in May 2018, saved $13,069 toward a pension over 7 years working for public schools, Teachers' Retirement System of the State of Illinois records show.

Over 30 years of retirement, Andrews would collect as much as $277,157, according to a projection by Local Government Information Services (LGIS), which publishes DuPage Policy Journal.

The projection assumes Andrews received $5,825 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Andrews will have already received $18,005 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.