Former state school employee Willoughby paid in $21K to teachers' pension fund, could collect $467K in retirement

Former state school employee Constance Willoughby, who retired in January 2017, saved $21,180 toward a pension over 8 years working for public schools, Teachers' Retirement System of the State of Illinois records show.

Over 30 years of retirement, Willoughby would collect as much as $466,737, according to a projection by Local Government Information Services (LGIS), which publishes DuPage Policy Journal.

The projection assumes Willoughby received $9,810 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Willoughby will have already received $30,321 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.