Former state school employee Krema paid in $129K to teachers' pension fund, could collect $2.67M in retirement

Former state school employee Barbara Krema, who retired in May 2016, saved $129,279 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, Krema would collect as much as $2.67 million, according to a projection by Local Government Information Services (LGIS), which publishes DuPage Policy Journal.

The projection assumes Krema received $56,113 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Krema will have already received $173,439 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.