Former state school employee Santos paid in $25K to teachers' pension fund, could collect $592K in retirement

By Local Labs News Service

Jun 1, 2017

Former state school employee Pamela Santos, who retired in May 2017, saved $25,402 toward a pension over 10 years working for public schools, Teachers' Retirement System of the State of Illinois records show.

Over 30 years of retirement, Santos would collect as much as $592,376, according to a projection by Local Government Information Services (LGIS), which publishes Metro East Sun.

The projection assumes Santos received $12,451 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Santos will have already received $38,486 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

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