Lake County Gazette

Former state school employee Nancy O'Connor, who retired in June 2018, saved $154,013 toward a pension over 21 years working for public schools, Teachers' Retirement System of the State of Illinois records show.

Over 30 years of retirement, O'Connor would collect as much as $2.37 million, according to a projection by Local Government Information Services (LGIS), which publishes Lake County Gazette.

The projection assumes O'Connor received $49,871 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, O'Connor will have already received $154,146 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.