South Central Reporter

Former state school employee Pamela Peabody, who retired in May 2017, saved $14,413 toward a pension over 4 years working for public schools, Teachers' Retirement System of the State of Illinois records show.

Over 30 years of retirement, Peabody would collect as much as $257,997, according to a projection by Local Government Information Services (LGIS), which publishes South Central Reporter.

The projection assumes Peabody received $5,422 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Peabody will have already received $16,760 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.