Dupage Policy Journal

Former state school employee Carol Pfingsten Lutes, who retired in May 2016, saved $7,354 toward a pension over 8 years working for public schools, Teachers' Retirement System of the State of Illinois records show.

Over 30 years of retirement, Pfingsten Lutes would collect as much as $703,389, according to a projection by Local Government Information Services (LGIS), which publishes DuPage Policy Journal.

The projection assumes Pfingsten Lutes received $14,784 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 1 years of retirement, Pfingsten Lutes will have already received $14,784 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.