East Central Reporter

Former state school employee Elizabeth Wise, who retired in May 2018, saved $32,082 toward a pension over 14 years working for public schools, Teachers' Retirement System of the State of Illinois records show.

Over 30 years of retirement, Wise would collect as much as $551,100, according to a projection by Local Government Information Services (LGIS), which publishes East Central Reporter.

The projection assumes Wise received $11,583 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Wise will have already received $35,801 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.