Will County Gazette

Former state school employee Joellyn Carpenter, who retired in June 2017, saved $105,036 toward a pension over 23 years working for public schools, Teachers' Retirement System of the State of Illinois records show.

Over 30 years of retirement, Carpenter would collect as much as $1.82 million, according to a projection by Local Government Information Services (LGIS), which publishes Will County Gazette.

The projection assumes Carpenter received $38,284 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Carpenter will have already received $118,333 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.