Former state school employee Butler paid in $152K to teachers' pension fund, could collect $2.5M in retirement

Former state school employee Alice Butler, who retired in June 2017, saved $152,184 toward a pension over 30 years working for public schools, Teachers' Retirement System of the State of Illinois records show.

Over 30 years of retirement, Butler would collect as much as $2.5 million, according to a projection by Local Government Information Services (LGIS), which publishes DuPage Policy Journal.

The projection assumes Butler received $52,544 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Butler will have already received $162,408 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.