Former state school employee Martin paid in $194K to teachers' pension fund, could collect $4.49M in retirement

By Local Labs News Service

Jul 1, 2018

Former state school employee James Martin, who retired in June 2018, saved $193,948 toward a pension over 35 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 $4.49 million, according to a projection by Local Government Information Services (LGIS), which publishes Kendall County Times.

The projection assumes Martin received $94,287 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Martin will have already received $291,432 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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