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Lake County Gazette

Saturday, April 19, 2025

Former state school employee Sanchez paid in $93K to teachers' pension fund, could collect $1.17M in retirement

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Former state school employee Olga Sanchez, who retired in June 2017, saved $93,363 toward a pension over 15 years working for public schools, Teachers' Retirement System of the State of Illinois records show.

Over 30 years of retirement, Sanchez would collect as much as $1.17 million, according to a projection by Local Government Information Services (LGIS), which publishes Lake County Gazette.

The projection assumes Sanchez received $24,681 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 4 years of retirement, Sanchez will have already received $103,256 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

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