Peoria Standard

Former state school employee Nancy Irwin, who retired in July 2018, saved $70,848 toward a pension over 16 years working for public schools, Teachers' Retirement System of the State of Illinois records show.

Over 30 years of retirement, Irwin would collect as much as $903,839, according to a projection by Local Government Information Services (LGIS), which publishes Peoria Standard.

The projection assumes Irwin received $18,998 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 4 years of retirement, Irwin will have already received $79,481 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.