Chambana Sun

Former state school employee Margaret Mulcahey, who retired in May 2016, saved $105,886 toward a pension over 42 years working for public schools, Teachers' Retirement System of the State of Illinois records show.

Over 30 years of retirement, Mulcahey would collect as much as $2.87 million, according to a projection by Local Government Information Services (LGIS), which publishes Chambana Sun.

The projection assumes Mulcahey received $60,298 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 2 years of retirement, Mulcahey will have already received $122,405 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.