Former state school employee Schlosser paid in $27K to teachers' pension fund, could collect $1.08M in retirement

Former state school employee Barbara Schlosser, who retired in May 2017, saved $26,943 toward a pension over 14 years working for public schools, Teachers' Retirement System of the State of Illinois records show.

Over 30 years of retirement, Schlosser would collect as much as $1.08 million, according to a projection by Local Government Information Services (LGIS), which publishes DuPage Policy Journal.

The projection assumes Schlosser received $22,744 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 2 years of retirement, Schlosser will have already received $46,170 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.