Former state school employee Martinez paid in $12K to teachers' pension fund, could collect $151K in retirement

By Local Labs News Service

Jun 1, 2018

Former state school employee Jose Martinez, who retired in May 2018, saved $11,713 toward a pension over 8 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 $151,381, according to a projection by Local Government Information Services (LGIS), which publishes NW Illinois News.

The projection assumes Martinez received $3,181 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 4 years of retirement, Martinez will have already received $13,306 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

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East Coloma-Nelson Consolidated Elementary School District 20

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