Former state school employee Weber paid in $59K to teachers' pension fund, could collect $789K in retirement

Former state school employee Cynthia Weber, who retired in May 2018, saved $58,950 toward a pension over 12 years working for public schools, Teachers' Retirement System of the State of Illinois records show.

Over 30 years of retirement, Weber would collect as much as $789,167, according to a projection by Local Government Information Services (LGIS), which publishes DuPage Policy Journal.

The projection assumes Weber received $16,587 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 4 years of retirement, Weber will have already received $69,396 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.