South Central Reporter

Former state school employee Martin May, who retired in March 2016, saved $7,420 toward a pension over 6 years working for public schools, Teachers' Retirement System of the State of Illinois records show.

Over 30 years of retirement, May would collect as much as $434,064, according to a projection by Local Government Information Services (LGIS), which publishes South Central Reporter.

The projection assumes May received $9,123 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 1 years of retirement, May will have already received $9,123 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.