Former state school employee Neurauter paid in $218K to teachers' pension fund, could collect $4.94M in retirement

Former state school employee Ronald Neurauter, who retired in June 2016, saved $218,355 toward a pension over 42 years working for public schools, Teachers' Retirement System of the State of Illinois records show.

Over 30 years of retirement, Neurauter would collect as much as $4.94 million, according to a projection by Local Government Information Services (LGIS), which publishes DuPage Policy Journal.

The projection assumes Neurauter received $103,927 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Neurauter will have already received $321,228 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.