Former state school employee Martinez paid in $37K to teachers' pension fund, could collect $1.05M in retirement

By Local Labs News Service

May 1, 2017

Former state school employee Jack Martinez, who retired in April 2017, saved $36,967 toward a pension over 14 years working for public schools, Teachers' Retirement System of the State of Illinois records show.

Over 30 years of retirement, Martinez would collect as much as $1.05 million, according to a projection by Local Government Information Services (LGIS), which publishes NW Illinois News.

The projection assumes Martinez received $22,040 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 2 years of retirement, Martinez will have already received $44,741 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

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River Bend Community Unit District 2

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