Former state school employee McConnell paid in $86K to teachers' pension fund, could collect $1.81M in retirement

By Local Labs News Service

Jun 1, 2016

Former state school employee Linda McConnell, who retired in May 2016, saved $85,654 toward a pension over 28 years working for public schools, Teachers' Retirement System of the State of Illinois records show.

Over 30 years of retirement, McConnell would collect as much as $1.81 million, according to a projection by Local Government Information Services (LGIS), which publishes South Cook News.

The projection assumes McConnell received $38,104 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, McConnell will have already received $117,775 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

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Hazel Crest School District 152-5

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