Former state school employee Crandall paid in $3K to teachers' pension fund, could collect $65K in retirement

Former state school employee Toni Crandall, who retired in June 2016, saved $2,525 toward a pension over 3 years working for public schools, Teachers' Retirement System of the State of Illinois records show.

Over 30 years of retirement, Crandall would collect as much as $65,077, according to a projection by Local Government Information Services (LGIS), which publishes DuPage Policy Journal.

The projection assumes Crandall received $1,367 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 2 years of retirement, Crandall will have already received $2,775 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.