Former state school employee Haug paid in $166K to teachers' pension fund, could collect $2.93M in retirement

Former state school employee Melanie Haug, who retired in June 2016, saved $165,803 toward a pension over 21 years working for public schools, Teachers' Retirement System of the State of Illinois records show.

Over 30 years of retirement, Haug would collect as much as $2.93 million, according to a projection by Local Government Information Services (LGIS), which publishes DuPage Policy Journal.

The projection assumes Haug received $61,630 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Haug will have already received $190,492 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.