Former state school employee Johnson paid in $148K to teachers' pension fund, could collect $3.21M in retirement

Former state school employee Nancy Johnson, who retired in June 2016, saved $148,462 toward a pension over 24 years working for public schools, Teachers' Retirement System of the State of Illinois records show.

Over 30 years of retirement, Johnson would collect as much as $3.21 million, according to a projection by Local Government Information Services (LGIS), which publishes DuPage Policy Journal.

The projection assumes Johnson received $67,554 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Johnson will have already received $208,803 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.