Former state school employee Eby paid in $219K to teachers' pension fund, could collect $5.15M in retirement

Former state school employee Kermit Eby, who retired in May 2017, saved $219,311 toward a pension over 34 years working for public schools, Teachers' Retirement System of the State of Illinois records show.

Over 30 years of retirement, Eby would collect as much as $5.15 million, according to a projection by Local Government Information Services (LGIS), which publishes DuPage Policy Journal.

The projection assumes Eby received $108,154 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 2 years of retirement, Eby will have already received $219,553 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.