Former state school employee Newton paid in $90K to teachers' pension fund, could collect $1.49M in retirement

Former state school employee Vivian Newton, who retired in July 2016, saved $89,986 toward a pension over 11 years working for public schools, Teachers' Retirement System of the State of Illinois records show.

Over 30 years of retirement, Newton would collect as much as $1.49 million, according to a projection by Local Government Information Services (LGIS), which publishes DuPage Policy Journal.

The projection assumes Newton received $31,259 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Newton will have already received $96,619 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.