Illinois Valley Times

Former state school employee Gretchen Dascher, who retired in May 2016, saved $65,145 toward a pension over 18 years working for public schools, Teachers' Retirement System of the State of Illinois records show.

Over 30 years of retirement, Dascher would collect as much as $1.04 million, according to a projection by Local Government Information Services (LGIS), which publishes Illinois Valley Times.

The projection assumes Dascher received $21,900 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Dascher will have already received $67,691 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.