Former state school employee Merz paid in $147K to teachers' pension fund, could collect $3.11M in retirement

By Local Labs News Service

Jun 1, 2016

Former state school employee Marla Merz, who retired in May 2016, saved $147,487 toward a pension over 38 years working for public schools, Teachers' Retirement System of the State of Illinois records show.

Over 30 years of retirement, Merz would collect as much as $3.11 million, according to a projection by Local Government Information Services (LGIS), which publishes McLean County Times.

The projection assumes Merz received $65,437 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Merz will have already received $202,259 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

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Pontiac-William Holliday School District 105

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