Former state school employee Kepner paid in $14K to teachers' pension fund, could collect $204K in retirement

Former state school employee Richard Kepner, who retired in May 2016, saved $14,107 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, Kepner would collect as much as $203,921, according to a projection by Local Government Information Services (LGIS), which publishes DuPage Policy Journal.

The projection assumes Kepner received $4,286 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 4 years of retirement, Kepner will have already received $17,931 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.