Former state school employee Rammer paid in $161K to teachers' pension fund, could collect $2.18M in retirement

Former state school employee Robert Rammer, who retired in June 2018, saved $161,336 toward a pension over 11 years working for public schools, Teachers' Retirement System of the State of Illinois records show.

Over 30 years of retirement, Rammer would collect as much as $2.18 million, according to a projection by Local Government Information Services (LGIS), which publishes DuPage Policy Journal.

The projection assumes Rammer received $45,920 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 4 years of retirement, Rammer will have already received $192,114 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.