Former state school employee Schwall paid in $171K to teachers' pension fund, could collect $3.86M in retirement

Former state school employee Susan Schwall, who retired in June 2018, saved $171,119 toward a pension over 29 years working for public schools, Teachers' Retirement System of the State of Illinois records show.

Over 30 years of retirement, Schwall would collect as much as $3.86 million, according to a projection by Local Government Information Services (LGIS), which publishes DuPage Policy Journal.

The projection assumes Schwall received $81,223 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Schwall will have already received $251,053 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.