Former state school employee Puk paid in $135K to teachers' pension fund, could collect $2.78M in retirement

Former state school employee David Puk, who retired in May 2016, saved $134,917 toward a pension over 25 years working for public schools, Teachers' Retirement System of the State of Illinois records show.

Over 30 years of retirement, Puk would collect as much as $2.78 million, according to a projection by Local Government Information Services (LGIS), which publishes DuPage Policy Journal.

The projection assumes Puk received $58,423 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Puk will have already received $180,580 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.