East Central Reporter

Former state school employee Lorraine Bailey, who retired in July 2017, saved $215,265 toward a pension over 42 years working for public schools, Teachers' Retirement System of the State of Illinois records show.

Over 30 years of retirement, Bailey would collect as much as $5.9 million, according to a projection by Local Government Information Services (LGIS), which publishes East Central Reporter.

The projection assumes Bailey received $123,999 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 2 years of retirement, Bailey will have already received $251,718 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.