Dupage Policy Journal

Former state school employee Nancy Billings, who retired in December 2018, saved $86,848 toward a pension over 25 years working for public schools, Teachers' Retirement System of the State of Illinois records show.

Over 30 years of retirement, Billings would collect as much as $2.23 million, according to a projection by Local Government Information Services (LGIS), which publishes DuPage Policy Journal.

The projection assumes Billings received $46,846 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 2 years of retirement, Billings will have already received $95,097 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.