Former state school employee Sanchez paid in $6K to teachers' pension fund, could collect $213K in retirement

By Local Labs News Service

Jul 1, 2017

Former state school employee Antonio Sanchez, who retired in June 2017, saved $6,485 toward a pension over 3 years working for public schools, Teachers' Retirement System of the State of Illinois records show.

Over 30 years of retirement, Sanchez would collect as much as $213,432, according to a projection by Local Government Information Services (LGIS), which publishes McHenry Times.

The projection assumes Sanchez received $4,486 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 2 years of retirement, Sanchez will have already received $9,107 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

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Community Unit School District 300 Board

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