Former state school employee Sanders paid in $215K to teachers' pension fund, could collect $5.11M in retirement

By Local Labs News Service

Aug 1, 2017

Former state school employee Ricky Sanders, who retired in July 2017, saved $214,871 toward a pension over 35 years working for public schools, Teachers' Retirement System of the State of Illinois records show.

Over 30 years of retirement, Sanders would collect as much as $5.11 million, according to a projection by Local Government Information Services (LGIS), which publishes Sangamon Sun.

The projection assumes Sanders received $107,331 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 2 years of retirement, Sanders will have already received $217,882 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

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Springfield School District 186 Board

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