Former state school employee Turner paid in $196K to teachers' pension fund, could collect $4.08M in retirement

Former state school employee Nancy Turner, who retired in June 2016, saved $196,392 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, Turner would collect as much as $4.08 million, according to a projection by Local Government Information Services (LGIS), which publishes DuPage Policy Journal.

The projection assumes Turner received $85,682 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Turner will have already received $264,834 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.