Dupage Policy Journal

Former state school employee William Sherwin, who retired in May 2018, saved $15,711 toward a pension over 7 years working for public schools, Teachers' Retirement System of the State of Illinois records show.

Over 30 years of retirement, Sherwin would collect as much as $712,649, according to a projection by Local Government Information Services (LGIS), which publishes DuPage Policy Journal.

The projection assumes Sherwin received $14,979 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 2 years of retirement, Sherwin will have already received $30,407 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.