Dupage Policy Journal

Former state school employee Barbara Cortez, who retired in May 2016, saved $134,263 toward a pension over 31 years working for public schools, Teachers' Retirement System of the State of Illinois records show.

Over 30 years of retirement, Cortez would collect as much as $3.77 million, according to a projection by Local Government Information Services (LGIS), which publishes DuPage Policy Journal.

The projection assumes Cortez received $79,212 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 2 years of retirement, Cortez will have already received $160,800 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.