Dupage Policy Journal

Former state school employee Denise Panzarella, who retired in June 2016, saved $130,755 toward a pension over 27 years working for public schools, Teachers' Retirement System of the State of Illinois records show.

Over 30 years of retirement, Panzarella would collect as much as $2.3 million, according to a projection by Local Government Information Services (LGIS), which publishes DuPage Policy Journal.

The projection assumes Panzarella received $48,355 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Panzarella will have already received $149,461 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.