Former state school employee Van Arkel paid in $149K to teachers' pension fund, could collect $3.26M in retirement

By Local Labs News Service

Aug 1, 2016

Former state school employee Sandra Van Arkel, who retired in July 2016, saved $149,327 toward a pension over 24 years working for public schools, Teachers' Retirement System of the State of Illinois records show.

Over 30 years of retirement, Van Arkel would collect as much as $3.26 million, according to a projection by Local Government Information Services (LGIS), which publishes South Cook News.

The projection assumes Van Arkel received $68,548 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Van Arkel will have already received $211,874 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

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