Former state school employee Schuller paid in $129K to teachers' pension fund, could collect $1.82M in retirement

Former state school employee Hans Schuller, who retired in August 2016, saved $128,645 toward a pension over 21 years working for public schools, Teachers' Retirement System of the State of Illinois records show.

Over 30 years of retirement, Schuller would collect as much as $1.82 million, according to a projection by Local Government Information Services (LGIS), which publishes DuPage Policy Journal.

The projection assumes Schuller received $38,216 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 4 years of retirement, Schuller will have already received $159,880 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.