Former state school employee Faryan paid in $171K to teachers' pension fund, could collect $4.28M in retirement

Former state school employee Laurie Faryan, who retired in May 2017, saved $170,881 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, Faryan would collect as much as $4.28 million, according to a projection by Local Government Information Services (LGIS), which publishes DuPage Policy Journal.

The projection assumes Faryan received $90,048 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 2 years of retirement, Faryan will have already received $182,797 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.