Illinois Valley Times

Former state school employee Martin Makransky, who retired in June 2018, saved $33,545 toward a pension over 12 years working for public schools, Teachers' Retirement System of the State of Illinois records show.

Over 30 years of retirement, Makransky would collect as much as $494,243, according to a projection by Local Government Information Services (LGIS), which publishes Illinois Valley Times.

The projection assumes Makransky received $10,388 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 4 years of retirement, Makransky will have already received $43,461 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.