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West Cook News

Monday, December 23, 2024

Former state school employee Sandoval paid in $147K to teachers' pension fund, could collect $2.81M in retirement

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Former state school employee Sylvia Sandoval, who retired in June 2016, saved $147,319 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, Sandoval would collect as much as $2.81 million, according to a projection by Local Government Information Services (LGIS), which publishes West Cook News.

The projection assumes Sandoval received $59,146 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Sandoval will have already received $182,814 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

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