Former state school employee Golec paid in $18K to teachers' pension fund, could collect $448K in retirement

Former state school employee Gloria Golec, who retired in May 2017, saved $17,807 toward a pension over 3 years working for public schools, Teachers' Retirement System of the State of Illinois records show.

Over 30 years of retirement, Golec would collect as much as $447,932, according to a projection by Local Government Information Services (LGIS), which publishes DuPage Policy Journal.

The projection assumes Golec received $9,415 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 2 years of retirement, Golec will have already received $19,112 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.