Former state school employee Riley paid in $242K to teachers' pension fund, could collect $4.33M in retirement

Former state school employee Susan Riley, who retired in May 2016, saved $241,579 toward a pension over 35 years working for public schools, Teachers' Retirement System of the State of Illinois records show.

Over 30 years of retirement, Riley would collect as much as $4.33 million, according to a projection by Local Government Information Services (LGIS), which publishes DuPage Policy Journal.

The projection assumes Riley received $90,962 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Riley will have already received $281,155 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.