Former state school employee Klock paid in $16K to teachers' pension fund, could collect $387K in retirement

Former state school employee Mary Klock, who retired in April 2018, saved $16,149 toward a pension over 7 years working for public schools, Teachers' Retirement System of the State of Illinois records show.

Over 30 years of retirement, Klock would collect as much as $386,633, according to a projection by Local Government Information Services (LGIS), which publishes DuPage Policy Journal.

The projection assumes Klock received $8,126 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 2 years of retirement, Klock will have already received $16,496 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.