Lake County Gazette

Former state school employee Regina Bates Hardy, who retired in June 2017, saved $126,278 toward a pension over 29 years working for public schools, Teachers' Retirement System of the State of Illinois records show.

Over 30 years of retirement, Bates Hardy would collect as much as $2.84 million, according to a projection by Local Government Information Services (LGIS), which publishes Lake County Gazette.

The projection assumes Bates Hardy received $59,711 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Bates Hardy will have already received $184,560 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.