Dupage Policy Journal

Former state school employee David Ladd, who retired in May 2016, saved $168,883 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, Ladd would collect as much as $3.63 million, according to a projection by Local Government Information Services (LGIS), which publishes DuPage Policy Journal.

The projection assumes Ladd received $76,223 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Ladd will have already received $235,598 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.