Will County Gazette

Former state school employee Gene Cahan, who retired in June 2017, saved $170,884 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, Cahan would collect as much as $4.67 million, according to a projection by Local Government Information Services (LGIS), which publishes Will County Gazette.

The projection assumes Cahan received $98,204 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 2 years of retirement, Cahan will have already received $199,354 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.