McHenry Times

Former state school employee Melinda Chapman, who retired in June 2018, saved $47,199 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, Chapman would collect as much as $788,265, according to a projection by Local Government Information Services (LGIS), which publishes McHenry Times.

The projection assumes Chapman received $16,568 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Chapman will have already received $51,210 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.