Former state school employee Lahey paid in $112K to teachers' pension fund, could collect $1.57M in retirement

Former state school employee Linda Lahey, who retired in May 2016, saved $111,728 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, Lahey would collect as much as $1.57 million, according to a projection by Local Government Information Services (LGIS), which publishes DuPage Policy Journal.

The projection assumes Lahey received $33,082 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 4 years of retirement, Lahey will have already received $138,401 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.