Lake County Gazette

Former state school employee Charles Cape, who retired in June 2016, saved $78,169 toward a pension over 17 years working for public schools, Teachers' Retirement System of the State of Illinois records show.

Over 30 years of retirement, Cape would collect as much as $1.46 million, according to a projection by Local Government Information Services (LGIS), which publishes Lake County Gazette.

The projection assumes Cape received $30,682 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Cape will have already received $94,834 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.