Former state school employee Naughton paid in $56K to teachers' pension fund, could collect $1.21M in retirement

Former state school employee Marlene Naughton, who retired in June 2016, saved $56,096 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, Naughton would collect as much as $1.21 million, according to a projection by Local Government Information Services (LGIS), which publishes DuPage Policy Journal.

The projection assumes Naughton received $25,337 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Naughton will have already received $78,314 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.