Former state school employee Heino paid in $239K to teachers' pension fund, could collect $5.22M in retirement

Former state school employee Linda Heino, who retired in June 2017, saved $239,296 toward a pension over 35 years working for public schools, Teachers' Retirement System of the State of Illinois records show.

Over 30 years of retirement, Heino would collect as much as $5.22 million, according to a projection by Local Government Information Services (LGIS), which publishes DuPage Policy Journal.

The projection assumes Heino received $109,701 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Heino will have already received $339,075 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.