Galesburg Reporter

Former state school employee Lorie Gibson, who retired in January 2016, saved $17,687 toward a pension over 7 years working for public schools, Teachers' Retirement System of the State of Illinois records show.

Over 30 years of retirement, Gibson would collect as much as $698,644, according to a projection by Local Government Information Services (LGIS), which publishes Galesburg Reporter.

The projection assumes Gibson received $14,685 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 2 years of retirement, Gibson will have already received $29,811 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.