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Kane County Reporter

Thursday, April 18, 2024

Former state school employee Marquis paid in $136K to teachers' pension fund, could collect $2.6M in retirement

Money 06

Former state school employee Mary Marquis, who retired in June 2016, saved $135,641 toward a pension over 31 years working for public schools, Teachers' Retirement System of the State of Illinois records show.

Over 30 years of retirement, Marquis would collect as much as $2.6 million, according to a projection by Local Government Information Services (LGIS), which publishes Kane County Reporter.

The projection assumes Marquis received $54,620 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Marquis will have already received $168,826 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

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