Former state school employee Mullin paid in $159K to teachers' pension fund, could collect $1.86M in retirement

Former state school employee Nancy Mullin, who retired in June 2017, saved $158,755 toward a pension over 22 years working for public schools, Teachers' Retirement System of the State of Illinois records show.

Over 30 years of retirement, Mullin would collect as much as $1.86 million, according to a projection by Local Government Information Services (LGIS), which publishes DuPage Policy Journal.

The projection assumes Mullin received $39,012 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 4 years of retirement, Mullin will have already received $163,210 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.