Former state school employee Gervase paid in $175K to teachers' pension fund, could collect $4.27M in retirement

Former state school employee Judy Gervase, who retired in May 2017, saved $174,516 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, Gervase would collect as much as $4.27 million, according to a projection by Local Government Information Services (LGIS), which publishes DuPage Policy Journal.

The projection assumes Gervase received $89,788 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 2 years of retirement, Gervase will have already received $182,270 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.