Former state school employee Lupo paid in $22K to teachers' pension fund, could collect $303K in retirement

Former state school employee Mary Lupo, who retired in May 2017, saved $21,902 toward a pension over 14 years working for public schools, Teachers' Retirement System of the State of Illinois records show.

Over 30 years of retirement, Lupo would collect as much as $302,722, according to a projection by Local Government Information Services (LGIS), which publishes DuPage Policy Journal.

The projection assumes Lupo received $6,363 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 4 years of retirement, Lupo will have already received $26,622 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.