Former state school employee Grant paid in $186K to teachers' pension fund, could collect $4.55M in retirement

Former state school employee Rosemary Grant, who retired in June 2018, saved $186,288 toward a pension over 37 years working for public schools, Teachers' Retirement System of the State of Illinois records show.

Over 30 years of retirement, Grant would collect as much as $4.55 million, according to a projection by Local Government Information Services (LGIS), which publishes DuPage Policy Journal.

The projection assumes Grant received $95,713 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 2 years of retirement, Grant will have already received $194,297 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.