Former state school employee Reilly paid in $252K to teachers' pension fund, could collect $5.9M in retirement

Former state school employee Jamie Reilly, who retired in July 2016, saved $252,091 toward a pension over 27 years working for public schools, Teachers' Retirement System of the State of Illinois records show.

Over 30 years of retirement, Reilly would collect as much as $5.9 million, according to a projection by Local Government Information Services (LGIS), which publishes DuPage Policy Journal.

The projection assumes Reilly received $123,982 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Reilly will have already received $383,215 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.