Former state school employee Manigold paid in $192K to teachers' pension fund, could collect $4.32M in retirement

Former state school employee Rebecca Manigold, who retired in June 2016, saved $192,222 toward a pension over 35 years working for public schools, Teachers' Retirement System of the State of Illinois records show.

Over 30 years of retirement, Manigold would collect as much as $4.32 million, according to a projection by Local Government Information Services (LGIS), which publishes DuPage Policy Journal.

The projection assumes Manigold received $90,785 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Manigold will have already received $280,608 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.