Will County Gazette

Former state school employee Margaret Fitzgerald, who retired in May 2016, saved $83,396 toward a pension over 15 years working for public schools, Teachers' Retirement System of the State of Illinois records show.

Over 30 years of retirement, Fitzgerald would collect as much as $996,868, according to a projection by Local Government Information Services (LGIS), which publishes Will County Gazette.

The projection assumes Fitzgerald received $20,953 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 4 years of retirement, Fitzgerald will have already received $87,660 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.