South Central Reporter

Former state school employee Julia Spalding, who retired in May 2016, saved $110,126 toward a pension over 35 years working for public schools, Teachers' Retirement System of the State of Illinois records show.

Over 30 years of retirement, Spalding would collect as much as $2.42 million, according to a projection by Local Government Information Services (LGIS), which publishes South Central Reporter.

The projection assumes Spalding received $50,816 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Spalding will have already received $157,066 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.