McLean County Times

Former state school employee Carol Pfeifer, who retired in June 2017, saved $2,770 toward a pension over 1 years working for public schools, Teachers' Retirement System of the State of Illinois records show.

Over 30 years of retirement, Pfeifer would collect as much as $54,744, according to a projection by Local Government Information Services (LGIS), which publishes McLean County Times.

The projection assumes Pfeifer received $1,150 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Pfeifer will have already received $3,556 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.