Lake County Gazette

Former state school employee John Jobst, who retired in June 2017, saved $160,375 toward a pension over 24 years working for public schools, Teachers' Retirement System of the State of Illinois records show.

Over 30 years of retirement, Jobst would collect as much as $3.43 million, according to a projection by Local Government Information Services (LGIS), which publishes Lake County Gazette.

The projection assumes Jobst received $72,013 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Jobst will have already received $222,584 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.