Former state school employee Denney paid in $2K to teachers' pension fund, could collect $44K in retirement

Former state school employee Patricia Denney, who retired in June 2016, saved $1,772 toward a pension over 2 years working for public schools, Teachers' Retirement System of the State of Illinois records show.

Over 30 years of retirement, Denney would collect as much as $44,153, according to a projection by Local Government Information Services (LGIS), which publishes DuPage Policy Journal.

The projection assumes Denney received $928 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 2 years of retirement, Denney will have already received $1,884 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.