Former state school employee Padjen paid in $81K to teachers' pension fund, could collect $1.4M in retirement

By Local Labs News Service

Mar 1, 2017

Former state school employee Sandra Padjen, who retired in February 2017, saved $81,292 toward a pension over 16 years working for public schools, Teachers' Retirement System of the State of Illinois records show.

Over 30 years of retirement, Padjen would collect as much as $1.4 million, according to a projection by Local Government Information Services (LGIS), which publishes Kane County Reporter.

The projection assumes Padjen received $29,480 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Padjen will have already received $91,119 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

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St. Charles Community Unit School District 303

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