Former state school employee Gizzo Killips paid in $118K to teachers' pension fund, could collect $2.31M in retirement

Former state school employee Cynthia Gizzo Killips, who retired in June 2017, saved $118,290 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, Gizzo Killips would collect as much as $2.31 million, according to a projection by Local Government Information Services (LGIS), which publishes DuPage Policy Journal.

The projection assumes Gizzo Killips received $48,488 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Gizzo Killips will have already received $149,872 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.