Former state school employee Ringwald Johansson paid in $138K to teachers' pension fund, could collect $3.46M in retirement

Former state school employee Janice Ringwald Johansson, who retired in October 2017, saved $138,321 toward a pension over 30 years working for public schools, Teachers' Retirement System of the State of Illinois records show.

Over 30 years of retirement, Ringwald Johansson would collect as much as $3.46 million, according to a projection by Local Government Information Services (LGIS), which publishes DuPage Policy Journal.

The projection assumes Ringwald Johansson received $72,639 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 2 years of retirement, Ringwald Johansson will have already received $147,457 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.