West Central Reporter

West Central Reporter

Monday, November 18, 2019

Former state school employee McCurley paid in $95K to teachers' pension fund, could collect $1.99M in retirement

Schools

By Local Labs News Service | Feb 1, 2016

Money836

Former state school employee Donna McCurley, who retired in January 2016, saved $95,247 toward a pension over 24 years working for public schools, Teachers' Retirement System of the State of Illinois records show.

Over 30 years of retirement, McCurley would collect as much as $1.99 million, according to a projection by Local Government Information Services (LGIS), which publishes West Central Reporter.

The projection assumes McCurley received $41,790 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, McCurley will have already received $129,169 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

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