South Central Reporter

Former state school employee Dana Ward, who retired in May 2017, saved $40,146 toward a pension over 13 years working for public schools, Teachers' Retirement System of the State of Illinois records show.

Over 30 years of retirement, Ward would collect as much as $540,247, according to a projection by Local Government Information Services (LGIS), which publishes South Central Reporter.

The projection assumes Ward received $11,355 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 4 years of retirement, Ward will have already received $47,506 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.