Lake County Gazette

Former state school employee Conrad Floeter, who retired in June 2017, saved $182,419 toward a pension over 34 years working for public schools, Teachers' Retirement System of the State of Illinois records show.

Over 30 years of retirement, Floeter would collect as much as $4.46 million, according to a projection by Local Government Information Services (LGIS), which publishes Lake County Gazette.

The projection assumes Floeter received $93,706 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 2 years of retirement, Floeter will have already received $190,223 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.