Former state school employee Schoenly paid in $6K to teachers' pension fund, could collect $124K in retirement

Former state school employee Donna Schoenly, who retired in June 2018, saved $5,692 toward a pension over 5 years working for public schools, Teachers' Retirement System of the State of Illinois records show.

Over 30 years of retirement, Schoenly would collect as much as $123,795, according to a projection by Local Government Information Services (LGIS), which publishes DuPage Policy Journal.

The projection assumes Schoenly received $2,602 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Schoenly will have already received $8,042 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.