Peoria Standard

Former state school employee Jeffrey Marquardt, who retired in May 2016, saved $116,061 toward a pension over 29 years working for public schools, Teachers' Retirement System of the State of Illinois records show.

Over 30 years of retirement, Marquardt would collect as much as $1.94 million, according to a projection by Local Government Information Services (LGIS), which publishes Peoria Standard.

The projection assumes Marquardt received $40,784 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Marquardt will have already received $126,060 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.