Former state school employee Saunders paid in $10K to teachers' pension fund, could collect $410K in retirement

By East Central Reporter Reports

Apr 1, 2016

Former state school employee Gayle Saunders, who retired in March 2016, saved $9,911 toward a pension over 1 years working for public schools, Teachers' Retirement System of the State of Illinois records show.

Over 30 years of retirement, Saunders would collect as much as $409,544, according to a projection by Local Government Information Services (LGIS), which publishes East Central Reporter.

The projection assumes Saunders received $8,608 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 2 years of retirement, Saunders will have already received $17,474 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

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Kansas Community Unit School District 3 Board

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