Former state school employee Taylor paid in $166K to teachers' pension fund, could collect $2.36M in retirement

Former state school employee Nancy Taylor, who retired in May 2018, saved $165,893 toward a pension over 30 years working for public schools, Teachers' Retirement System of the State of Illinois records show.

Over 30 years of retirement, Taylor would collect as much as $2.36 million, according to a projection by Local Government Information Services (LGIS), which publishes DuPage Policy Journal.

The projection assumes Taylor received $49,674 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 4 years of retirement, Taylor will have already received $207,817 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.