South Central Reporter

Former state school employee Lindsey Schaefer, who retired in January 2018, saved $68,723 toward a pension over 16 years working for public schools, Teachers' Retirement System of the State of Illinois records show.

Over 30 years of retirement, Schaefer would collect as much as $979,667, according to a projection by Local Government Information Services (LGIS), which publishes South Central Reporter.

The projection assumes Schaefer received $20,591 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 4 years of retirement, Schaefer will have already received $86,145 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.