Former state school employee Marks paid in $91K to teachers' pension fund, could collect $1.44M in retirement

By East Central Reporter Reports

Jun 1, 2017

Former state school employee Glenda Marks, who retired in May 2017, saved $90,751 toward a pension over 28 years working for public schools, Teachers' Retirement System of the State of Illinois records show.

Over 30 years of retirement, Marks would collect as much as $1.44 million, according to a projection by Local Government Information Services (LGIS), which publishes East Central Reporter.

The projection assumes Marks received $30,168 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Marks will have already received $93,246 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

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Arthur Community Unified School District 305

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