East Central Reporter

Former state school employee Matthew Jones, who retired in January 2017, saved $33,446 toward a pension over 13 years working for public schools, Teachers' Retirement System of the State of Illinois records show.

Over 30 years of retirement, Jones would collect as much as $753,560, according to a projection by Local Government Information Services (LGIS), which publishes East Central Reporter.

The projection assumes Jones received $15,839 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Jones will have already received $48,956 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.