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Kane County Reporter

Monday, November 25, 2024

Former state school employee Sanchez Toledo paid in $35K to teachers' pension fund, could collect $541K in retirement

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Former state school employee Evelyn Sanchez Toledo, who retired in May 2016, saved $34,930 toward a pension over 8 years working for public schools, Teachers' Retirement System of the State of Illinois records show.

Over 30 years of retirement, Sanchez Toledo would collect as much as $541,109, according to a projection by Local Government Information Services (LGIS), which publishes Kane County Reporter.

The projection assumes Sanchez Toledo received $11,373 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Sanchez Toledo will have already received $35,152 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

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