Dupage Policy Journal

Former state school employee Terry Nolan, who retired in June 2018, saved $162,357 toward a pension over 29 years working for public schools, Teachers' Retirement System of the State of Illinois records show.

Over 30 years of retirement, Nolan would collect as much as $4.2 million, according to a projection by Local Government Information Services (LGIS), which publishes DuPage Policy Journal.

The projection assumes Nolan received $88,194 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 2 years of retirement, Nolan will have already received $179,034 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.