Former state school employee Proud Edwards paid in $93K to teachers' pension fund, could collect $1.58M in retirement

Former state school employee Margaret Proud Edwards, who retired in June 2017, saved $93,129 toward a pension over 17 years working for public schools, Teachers' Retirement System of the State of Illinois records show.

Over 30 years of retirement, Proud Edwards would collect as much as $1.58 million, according to a projection by Local Government Information Services (LGIS), which publishes DuPage Policy Journal.

The projection assumes Proud Edwards received $33,245 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Proud Edwards will have already received $102,756 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.