Former state school employee Tavine paid in $104K to teachers' pension fund, could collect $2.09M in retirement

Former state school employee Terry Tavine, who retired in June 2016, saved $103,721 toward a pension over 28 years working for public schools, Teachers' Retirement System of the State of Illinois records show.

Over 30 years of retirement, Tavine would collect as much as $2.09 million, according to a projection by Local Government Information Services (LGIS), which publishes DuPage Policy Journal.

The projection assumes Tavine received $44,014 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Tavine will have already received $136,042 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.