Will County Gazette

Former state school employee Donald Gray, who retired in June 2018, saved $180,833 toward a pension over 31 years working for public schools, Teachers' Retirement System of the State of Illinois records show.

Over 30 years of retirement, Gray would collect as much as $3.98 million, according to a projection by Local Government Information Services (LGIS), which publishes Will County Gazette.

The projection assumes Gray received $83,750 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Gray will have already received $258,864 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.