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South Cook News

Sunday, April 20, 2025

Former state school employee McFarlane paid in $180K to teachers' pension fund, could collect $3.24M in retirement

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Former state school employee Dennis McFarlane, who retired in June 2017, saved $179,679 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, McFarlane would collect as much as $3.24 million, according to a projection by Local Government Information Services (LGIS), which publishes South Cook News.

The projection assumes McFarlane received $68,073 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, McFarlane will have already received $210,406 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

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