Lake County Gazette

Former state school employee Susan Losavio, who retired in June 2017, saved $92,528 toward a pension over 15 years working for public schools, Teachers' Retirement System of the State of Illinois records show.

Over 30 years of retirement, Losavio would collect as much as $1.48 million, according to a projection by Local Government Information Services (LGIS), which publishes Lake County Gazette.

The projection assumes Losavio received $31,204 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Losavio will have already received $96,448 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.