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Former state school employee Gamen paid in $275K to teachers' pension fund, could collect $6.12M in retirement

Schools

By Local Labs News Service | Jul 1, 2017

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Former state school employee Gary Gamen, who retired in June 2017, saved $275,473 toward a pension over 34 years working for public schools, Teachers' Retirement System of the State of Illinois records show.

Over 30 years of retirement, Gamen would collect as much as $6.12 million, according to a projection by Local Government Information Services (LGIS), which publishes DuPage Policy Journal.

The projection assumes Gamen received $128,722 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Gamen will have already received $397,868 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

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Hinsdale Township High School District 86

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