Lake County Gazette

Former state school employee Virginia Dalbo, who retired in June 2017, saved $172,510 toward a pension over 38 years working for public schools, Teachers' Retirement System of the State of Illinois records show.

Over 30 years of retirement, Dalbo would collect as much as $4.04 million, according to a projection by Local Government Information Services (LGIS), which publishes Lake County Gazette.

The projection assumes Dalbo received $84,846 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Dalbo will have already received $262,250 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.