Former state school employee Koenig paid in $128K to teachers' pension fund, could collect $2.74M in retirement

Former state school employee Laura Koenig, who retired in June 2016, saved $128,394 toward a pension over 23 years working for public schools, Teachers' Retirement System of the State of Illinois records show.

Over 30 years of retirement, Koenig would collect as much as $2.74 million, according to a projection by Local Government Information Services (LGIS), which publishes DuPage Policy Journal.

The projection assumes Koenig received $57,590 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Koenig will have already received $178,006 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.