Former state school employee Schertz paid in $177K to teachers' pension fund, could collect $3.66M in retirement

Former state school employee Donna Schertz, who retired in June 2018, saved $177,032 toward a pension over 34 years working for public schools, Teachers' Retirement System of the State of Illinois records show.

Over 30 years of retirement, Schertz would collect as much as $3.66 million, according to a projection by Local Government Information Services (LGIS), which publishes DuPage Policy Journal.

The projection assumes Schertz received $77,011 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Schertz will have already received $238,033 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.