South Central Reporter

Former state school employee Kathleen Grandt, who retired in May 2018, saved $54,469 toward a pension over 15 years working for public schools, Teachers' Retirement System of the State of Illinois records show.

Over 30 years of retirement, Grandt would collect as much as $972,108, according to a projection by Local Government Information Services (LGIS), which publishes South Central Reporter.

The projection assumes Grandt received $20,433 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Grandt will have already received $63,156 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.