Former state school employee Kasper paid in $15K to teachers' pension fund, could collect $203K in retirement

Former state school employee Mary Kasper, who retired in February 2016, saved $14,971 toward a pension over 8 years working for public schools, Teachers' Retirement System of the State of Illinois records show.

Over 30 years of retirement, Kasper would collect as much as $203,470, according to a projection by Local Government Information Services (LGIS), which publishes DuPage Policy Journal.

The projection assumes Kasper received $4,276 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 4 years of retirement, Kasper will have already received $17,888 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.