South Central Reporter

Former state school employee Joy Oldfield, who retired in February 2018, saved $14,636 toward a pension over 8 years working for public schools, Teachers' Retirement System of the State of Illinois records show.

Over 30 years of retirement, Oldfield would collect as much as $486,256, according to a projection by Local Government Information Services (LGIS), which publishes South Central Reporter.

The projection assumes Oldfield received $10,220 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 2 years of retirement, Oldfield will have already received $20,747 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.