Quantcast

McHenry Times

Saturday, June 14, 2025

Former state school employee Martin paid in $91K to teachers' pension fund, could collect $1.57M in retirement

Shutterstock 385535740

Former state school employee Sharon Martin, who retired in June 2018, saved $90,878 toward a pension over 25 years working for public schools, Teachers' Retirement System of the State of Illinois records show.

Over 30 years of retirement, Martin would collect as much as $1.57 million, according to a projection by Local Government Information Services (LGIS), which publishes McHenry Times.

The projection assumes Martin received $33,004 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Martin will have already received $102,012 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

MORE NEWS