Former state school employee Sebak paid in $157K to teachers' pension fund, could collect $3.13M in retirement

Former state school employee Patricia Sebak, who retired in June 2017, saved $156,648 toward a pension over 33 years working for public schools, Teachers' Retirement System of the State of Illinois records show.

Over 30 years of retirement, Sebak would collect as much as $3.13 million, according to a projection by Local Government Information Services (LGIS), which publishes DuPage Policy Journal.

The projection assumes Sebak received $65,825 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Sebak will have already received $203,459 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.