Former state school employee MacK paid in $140K to teachers' pension fund, could collect $3.29M in retirement

By Local Labs News Service

Jun 1, 2016

Former state school employee Linda MacK, who retired in May 2016, saved $139,677 toward a pension over 34 years working for public schools, Teachers' Retirement System of the State of Illinois records show.

Over 30 years of retirement, MacK would collect as much as $3.29 million, according to a projection by Local Government Information Services (LGIS), which publishes McLean County Times.

The projection assumes MacK received $69,243 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 2 years of retirement, MacK will have already received $140,563 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

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Ridgeview Community Unit School District 19

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