Dupage Policy Journal

Former state school employee Claudia Payne, who retired in June 2016, saved $161,635 toward a pension over 38 years working for public schools, Teachers' Retirement System of the State of Illinois records show.

Over 30 years of retirement, Payne would collect as much as $4.28 million, according to a projection by Local Government Information Services (LGIS), which publishes DuPage Policy Journal.

The projection assumes Payne received $89,872 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 2 years of retirement, Payne will have already received $182,440 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.