Former state school employee Gandy paid in $20K to teachers' pension fund, could collect $544K in retirement

By Local Labs News Service

Jun 1, 2018

Former state school employee Sandra Gandy, who retired in May 2018, saved $20,220 toward a pension over 7 years working for public schools, Teachers' Retirement System of the State of Illinois records show.

Over 30 years of retirement, Gandy would collect as much as $543,775, according to a projection by Local Government Information Services (LGIS), which publishes Will County Gazette.

The projection assumes Gandy received $11,429 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 2 years of retirement, Gandy will have already received $23,201 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

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Joliet Public School District 86

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