South Central Reporter

Former state school employee Robert Pierce, who retired in May 2016, saved $174,620 toward a pension over 37 years working for public schools, Teachers' Retirement System of the State of Illinois records show.

Over 30 years of retirement, Pierce would collect as much as $4.31 million, according to a projection by Local Government Information Services (LGIS), which publishes South Central Reporter.

The projection assumes Pierce received $90,568 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 2 years of retirement, Pierce will have already received $183,853 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.