Former state school employee Martin paid in $107K to teachers' pension fund, could collect $2.11M in retirement

Former state school employee Patricia Martin, who retired in May 2017, saved $107,293 toward a pension over 20 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 $2.11 million, according to a projection by Local Government Information Services (LGIS), which publishes DuPage Policy Journal.

The projection assumes Martin received $44,316 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Martin will have already received $136,975 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.