Former state school employee Matherson Evans paid in $5K to teachers' pension fund, could collect $350K in retirement

Former state school employee Theresa Matherson Evans, who retired in December 2017, saved $5,416 toward a pension over 5 years working for public schools, Teachers' Retirement System of the State of Illinois records show.

Over 30 years of retirement, Matherson Evans would collect as much as $350,136, according to a projection by Local Government Information Services (LGIS), which publishes DuPage Policy Journal.

The projection assumes Matherson Evans received $7,359 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 1 years of retirement, Matherson Evans will have already received $7,359 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.