Former state school employee Gross paid in $195K to teachers' pension fund, could collect $4.36M in retirement

Former state school employee Linda Gross, who retired in June 2017, saved $195,268 toward a pension over 31 years working for public schools, Teachers' Retirement System of the State of Illinois records show.

Over 30 years of retirement, Gross would collect as much as $4.36 million, according to a projection by Local Government Information Services (LGIS), which publishes DuPage Policy Journal.

The projection assumes Gross received $91,683 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Gross will have already received $283,382 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.