Dupage Policy Journal

Former state school employee Graydon Megan, who retired in May 2016, saved $7,277 toward a pension over 5 years working for public schools, Teachers' Retirement System of the State of Illinois records show.

Over 30 years of retirement, Megan would collect as much as $110,784, according to a projection by Local Government Information Services (LGIS), which publishes DuPage Policy Journal.

The projection assumes Megan received $2,328 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 4 years of retirement, Megan will have already received $9,740 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.