Former state school employee Molby paid in $205K to teachers' pension fund, could collect $3.97M in retirement

Former state school employee Diana Molby, who retired in June 2018, saved $205,445 toward a pension over 31 years working for public schools, Teachers' Retirement System of the State of Illinois records show.

Over 30 years of retirement, Molby would collect as much as $3.97 million, according to a projection by Local Government Information Services (LGIS), which publishes DuPage Policy Journal.

The projection assumes Molby received $83,388 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Molby will have already received $257,745 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.