South Central Reporter

Former state school employee Roy Austin, who retired in March 2016, saved $64,979 toward a pension over 22 years working for public schools, Teachers' Retirement System of the State of Illinois records show.

Over 30 years of retirement, Austin would collect as much as $1.16 million, according to a projection by Local Government Information Services (LGIS), which publishes South Central Reporter.

The projection assumes Austin received $24,298 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Austin will have already received $75,103 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.