Former state school employee Skarr paid in $187K to teachers' pension fund, could collect $3.32M in retirement

Former state school employee Pamela Skarr, who retired in May 2016, saved $186,745 toward a pension over 27 years working for public schools, Teachers' Retirement System of the State of Illinois records show.

Over 30 years of retirement, Skarr would collect as much as $3.32 million, according to a projection by Local Government Information Services (LGIS), which publishes DuPage Policy Journal.

The projection assumes Skarr received $69,754 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Skarr will have already received $215,603 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.