Former state school employee Johnson paid in $4K to teachers' pension fund, could collect $62K in retirement

Former state school employee Deborah Johnson, who retired in June 2016, saved $4,089 toward a pension over 2 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 $62,302, according to a projection by Local Government Information Services (LGIS), which publishes DuPage Policy Journal.

The projection assumes Johnson received $1,309 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 4 years of retirement, Johnson will have already received $5,475 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.