Quantcast

West Central Reporter

Friday, April 26, 2024

Former state school employee McNulty paid in $106K to teachers' pension fund, could collect $2.09M in retirement

Money836

Former state school employee Cara McNulty, who retired in June 2018, saved $106,164 toward a pension over 35 years working for public schools, Teachers' Retirement System of the State of Illinois records show.

Over 30 years of retirement, McNulty would collect as much as $2.09 million, according to a projection by Local Government Information Services (LGIS), which publishes West Central Reporter.

The projection assumes McNulty received $43,866 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, McNulty will have already received $135,585 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

!RECEIVE ALERTS

The next time we write about any of these orgs, we’ll email you a link to the story. You may edit your settings or unsubscribe at any time.
Sign-up

DONATE

Help support the Metric Media Foundation's mission to restore community based news.
Donate

MORE NEWS