Kane County Reporter

Former state school employee Nancy McCarthy, who retired in November 2016, saved $62,153 toward a pension over 16 years working for public schools, Teachers' Retirement System of the State of Illinois records show.

Over 30 years of retirement, McCarthy would collect as much as $1.07 million, according to a projection by Local Government Information Services (LGIS), which publishes Kane County Reporter.

The projection assumes McCarthy received $22,583 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, McCarthy will have already received $69,801 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.