Illinois Valley Times

Former state school employee Alice Fritz, who retired in June 2018, saved $135,982 toward a pension over 35 years working for public schools, Teachers' Retirement System of the State of Illinois records show.

Over 30 years of retirement, Fritz would collect as much as $2.65 million, according to a projection by Local Government Information Services (LGIS), which publishes Illinois Valley Times.

The projection assumes Fritz received $55,634 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Fritz will have already received $171,959 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.