Former state school employee Martens paid in $105K to teachers' pension fund, could collect $2.25M in retirement

By Local Labs News Service

Dec 1, 2018

Former state school employee Todd Martens, who retired in November 2018, saved $105,124 toward a pension over 18 years working for public schools, Teachers' Retirement System of the State of Illinois records show.

Over 30 years of retirement, Martens would collect as much as $2.25 million, according to a projection by Local Government Information Services (LGIS), which publishes Kendall County Times.

The projection assumes Martens received $47,250 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Martens will have already received $146,046 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

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Oswego Community Unit School District 308

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