South Central Reporter

Former state school employee William Carpenter, who retired in June 2017, saved $158,185 toward a pension over 34 years working for public schools, Teachers' Retirement System of the State of Illinois records show.

Over 30 years of retirement, Carpenter would collect as much as $3.35 million, according to a projection by Local Government Information Services (LGIS), which publishes South Central Reporter.

The projection assumes Carpenter received $70,473 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Carpenter will have already received $217,825 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.