East Central Reporter

Former state school employee Joleen Hoene, who retired in May 2018, saved $103,996 toward a pension over 27 years working for public schools, Teachers' Retirement System of the State of Illinois records show.

Over 30 years of retirement, Hoene would collect as much as $1.93 million, according to a projection by Local Government Information Services (LGIS), which publishes East Central Reporter.

The projection assumes Hoene received $40,465 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Hoene will have already received $125,073 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.