Former state school employee Norris paid in $164K to teachers' pension fund, could collect $3.81M in retirement

Former state school employee Linda Norris, who retired in June 2016, saved $164,056 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, Norris would collect as much as $3.81 million, according to a projection by Local Government Information Services (LGIS), which publishes DuPage Policy Journal.

The projection assumes Norris received $80,154 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Norris will have already received $247,749 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.