South Central Reporter

Former state school employee William Wilt, who retired in October 2016, saved $5,048 toward a pension over 5 years working for public schools, Teachers' Retirement System of the State of Illinois records show.

Over 30 years of retirement, Wilt would collect as much as $336,628, according to a projection by Local Government Information Services (LGIS), which publishes South Central Reporter.

The projection assumes Wilt received $7,075 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 1 years of retirement, Wilt will have already received $7,075 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.