Former state school employee Ricci paid in $247K to teachers' pension fund, could collect $5.07M in retirement

Former state school employee Brian Ricci, who retired in May 2018, saved $247,210 toward a pension over 33 years working for public schools, Teachers' Retirement System of the State of Illinois records show.

Over 30 years of retirement, Ricci would collect as much as $5.07 million, according to a projection by Local Government Information Services (LGIS), which publishes DuPage Policy Journal.

The projection assumes Ricci received $106,579 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Ricci will have already received $329,424 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.