Former state school employee Sandholm paid in $133K to teachers' pension fund, could collect $3.12M in retirement

By Local Labs News Service

Jun 1, 2016

Former state school employee Deborah Sandholm, who retired in May 2016, saved $132,808 toward a pension over 32 years working for public schools, Teachers' Retirement System of the State of Illinois records show.

Over 30 years of retirement, Sandholm would collect as much as $3.12 million, according to a projection by Local Government Information Services (LGIS), which publishes NW Illinois News.

The projection assumes Sandholm received $65,535 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 2 years of retirement, Sandholm will have already received $133,036 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

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