Former state school employee Byrne paid in $129K to teachers' pension fund, could collect $2.99M in retirement

Former state school employee Nancy Byrne, who retired in May 2017, saved $128,811 toward a pension over 26 years working for public schools, Teachers' Retirement System of the State of Illinois records show.

Over 30 years of retirement, Byrne would collect as much as $2.99 million, according to a projection by Local Government Information Services (LGIS), which publishes DuPage Policy Journal.

The projection assumes Byrne received $62,866 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Byrne will have already received $194,313 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.