Former state school employee Healy Frain paid in $168K to teachers' pension fund, could collect $3.49M in retirement

By Local Labs News Service

Jun 1, 2018

Former state school employee Margaret Healy Frain, who retired in May 2018, saved $167,711 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, Healy Frain would collect as much as $3.49 million, according to a projection by Local Government Information Services (LGIS), which publishes South Cook News.

The projection assumes Healy Frain received $73,428 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Healy Frain will have already received $226,959 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

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Southwest Cook Coop Spec Educ

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