Lake County Gazette

Former state school employee Anita Pickett, who retired in June 2016, saved $148,687 toward a pension over 28 years working for public schools, Teachers' Retirement System of the State of Illinois records show.

Over 30 years of retirement, Pickett would collect as much as $2.48 million, according to a projection by Local Government Information Services (LGIS), which publishes Lake County Gazette.

The projection assumes Pickett received $52,162 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Pickett will have already received $161,228 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.