Lake County Gazette

Former state school employee Luann Sullivan, who retired in March 2016, saved $76,014 toward a pension over 14 years working for public schools, Teachers' Retirement System of the State of Illinois records show.

Over 30 years of retirement, Sullivan would collect as much as $825,534, according to a projection by Local Government Information Services (LGIS), which publishes Lake County Gazette.

The projection assumes Sullivan received $17,352 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 5 years of retirement, Sullivan will have already received $92,125 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.