Leyden CHSD 212 Marten paid in $227K to teachers pension fund, could collect $8.0 million in retirement
Over 40 years of retirement, Marten would collect as much as $8.033 million, according to a projection by Local Government Information Services (LGIS), which publishes West Cook News.
Marten, 55, who currently lives in Elmhurst earned $156,712 in his final year at Leyden CHSD 212.
The projection assumes Marten will receive 64.5 percent of that total - $101,085 - in his first year of retirement, then 3 percent annual increases thereafter, compounded.
After three years of retirement, Marten will have already received $312,444 in retirement benefits, or more than the sum total of his contributions to the state teachers' pension fund.
ISBE reported that 34.3 percent of Leyden CHSD 212 graduates were deemed "college ready" last year.