Grundy Reporter

Former state school employee Terry Wise, who retired in May 2018, saved $25,837 toward a pension over 4 years working for public schools, Teachers' Retirement System of the State of Illinois records show.

Over 30 years of retirement, Wise would collect as much as $338,860, according to a projection by Local Government Information Services (LGIS), which publishes Grundy Reporter.

The projection assumes Wise received $7,122 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 4 years of retirement, Wise will have already received $29,797 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.