Former state school employee Carpenter paid in $193K to teachers' pension fund, could collect $3.26M in retirement

Former state school employee Anita Carpenter, who retired in May 2018, saved $192,843 toward a pension over 22 years working for public schools, Teachers' Retirement System of the State of Illinois records show.

Over 30 years of retirement, Carpenter would collect as much as $3.26 million, according to a projection by Local Government Information Services (LGIS), which publishes DuPage Policy Journal.

The projection assumes Carpenter received $68,616 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Carpenter will have already received $212,084 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.