Former state school employee Crider paid in $230K to teachers' pension fund, could collect $5.07M in retirement

Former state school employee James Crider, who retired in June 2017, saved $229,521 toward a pension over 35 years working for public schools, Teachers' Retirement System of the State of Illinois records show.

Over 30 years of retirement, Crider would collect as much as $5.07 million, according to a projection by Local Government Information Services (LGIS), which publishes DuPage Policy Journal.

The projection assumes Crider received $106,491 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Crider will have already received $329,154 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.