Former state school employee McGuire paid in $141K to teachers' pension fund, could collect $2.88M in retirement

By Local Labs News Service

Jun 1, 2016

Former state school employee Wendy McGuire, who retired in May 2016, saved $141,109 toward a pension over 36 years working for public schools, Teachers' Retirement System of the State of Illinois records show.

Over 30 years of retirement, McGuire would collect as much as $2.88 million, according to a projection by Local Government Information Services (LGIS), which publishes McLean County Times.

The projection assumes McGuire received $60,588 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, McGuire will have already received $187,272 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

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Prairie Central Community Unit School District 8

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