Former state school employee Blecher paid in $256K to teachers' pension fund, could collect $5M in retirement

Former state school employee Nancy Blecher, who retired in May 2018, saved $256,073 toward a pension over 34 years working for public schools, Teachers' Retirement System of the State of Illinois records show.

Over 30 years of retirement, Blecher would collect as much as $5 million, according to a projection by Local Government Information Services (LGIS), which publishes DuPage Policy Journal.

The projection assumes Blecher received $105,152 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Blecher will have already received $325,015 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.