Dupage Policy Journal

Former state school employee Terese Herbert, who retired in May 2016, saved $247,037 toward a pension over 36 years working for public schools, Teachers' Retirement System of the State of Illinois records show.

Over 30 years of retirement, Herbert would collect as much as $4.76 million, according to a projection by Local Government Information Services (LGIS), which publishes DuPage Policy Journal.

The projection assumes Herbert received $100,049 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Herbert will have already received $309,241 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.