Dupage Policy Journal

Former state school employee William Shepard, who retired in May 2016, saved $121,922 toward a pension over 24 years working for public schools, Teachers' Retirement System of the State of Illinois records show.

Over 30 years of retirement, Shepard would collect as much as $2.41 million, according to a projection by Local Government Information Services (LGIS), which publishes DuPage Policy Journal.

The projection assumes Shepard received $50,681 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Shepard will have already received $156,649 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.