Former state school employee Martens paid in $112K to teachers' pension fund, could collect $2.63M in retirement

By Local Labs News Service

Jul 1, 2016

Former state school employee Robin Martens, who retired in June 2016, saved $112,245 toward a pension over 23 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 $2.63 million, according to a projection by Local Government Information Services (LGIS), which publishes North Cook News.

The projection assumes Martens received $55,250 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Martens will have already received $170,773 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

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Glencoe School District 35 Board

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