Kane County Reporter

Former state school employee Stephen Haugen, who retired in June 2017, saved $84,870 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, Haugen would collect as much as $1.47 million, according to a projection by Local Government Information Services (LGIS), which publishes Kane County Reporter.

The projection assumes Haugen received $30,834 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Haugen will have already received $95,305 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.