Former state school employee Martens paid in $124K to teachers' pension fund, could collect $2.92M in retirement

By Rock Island Today Reports

Jun 1, 2017

Former state school employee Pamela Martens, who retired in May 2017, saved $123,519 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, Martens would collect as much as $2.92 million, according to a projection by Local Government Information Services (LGIS), which publishes Rock Island Today.

The projection assumes Martens received $61,416 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 2 years of retirement, Martens will have already received $124,674 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

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