East Central Reporter

Former state school employee Martin Marx, who retired in May 2016, saved $112,551 toward a pension over 41 years working for public schools, Teachers' Retirement System of the State of Illinois records show.

Over 30 years of retirement, Marx would collect as much as $2.87 million, according to a projection by Local Government Information Services (LGIS), which publishes East Central Reporter.

The projection assumes Marx received $60,390 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 2 years of retirement, Marx will have already received $122,592 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.