Former state school employee Martin paid in $117K to teachers' pension fund, could collect $2.07M in retirement

By Local Labs News Service

Jan 1, 2017

Former state school employee Demarco Martin, who retired in December 2016, saved $117,307 toward a pension over 26 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 $2.07 million, according to a projection by Local Government Information Services (LGIS), which publishes Metro East Sun.

The projection assumes Martin received $43,534 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Martin will have already received $134,559 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

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East St. Louis School District 189 Board

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