Former state school employee Krumpolz paid in $189K to teachers' pension fund, could collect $4.22M in retirement

Former state school employee Bradley Krumpolz, who retired in June 2016, saved $188,914 toward a pension over 30 years working for public schools, Teachers' Retirement System of the State of Illinois records show.

Over 30 years of retirement, Krumpolz would collect as much as $4.22 million, according to a projection by Local Government Information Services (LGIS), which publishes DuPage Policy Journal.

The projection assumes Krumpolz received $88,598 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Krumpolz will have already received $273,848 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.