Former state school employee Kloos paid in $13K to teachers' pension fund, could collect $720K in retirement

Former state school employee Roxanne Kloos, who retired in June 2016, saved $12,713 toward a pension over 10 years working for public schools, Teachers' Retirement System of the State of Illinois records show.

Over 30 years of retirement, Kloos would collect as much as $720,071, according to a projection by Local Government Information Services (LGIS), which publishes DuPage Policy Journal.

The projection assumes Kloos received $15,135 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 1 years of retirement, Kloos will have already received $15,135 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.