Former state school employee Kovar paid in $163K to teachers' pension fund, could collect $3.32M in retirement

Former state school employee Pamela Kovar, who retired in May 2017, saved $163,079 toward a pension over 27 years working for public schools, Teachers' Retirement System of the State of Illinois records show.

Over 30 years of retirement, Kovar would collect as much as $3.32 million, according to a projection by Local Government Information Services (LGIS), which publishes DuPage Policy Journal.

The projection assumes Kovar received $69,857 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Kovar will have already received $215,922 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.