Former state school employee Ciezak paid in $41K to teachers' pension fund, could collect $561K in retirement

Former state school employee Madeleine Ciezak, who retired in June 2017, saved $41,418 toward a pension over 9 years working for public schools, Teachers' Retirement System of the State of Illinois records show.

Over 30 years of retirement, Ciezak would collect as much as $560,919, according to a projection by Local Government Information Services (LGIS), which publishes DuPage Policy Journal.

The projection assumes Ciezak received $11,790 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 4 years of retirement, Ciezak will have already received $49,325 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.