Former state school employee McClellan paid in $72K to teachers' pension fund, could collect $1.21M in retirement

By Local Labs News Service

Jan 1, 2018

Former state school employee Kathy McClellan, who retired in December 2017, saved $72,053 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, McClellan would collect as much as $1.21 million, according to a projection by Local Government Information Services (LGIS), which publishes Southern Illinois News.

The projection assumes McClellan received $25,477 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, McClellan will have already received $78,746 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

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Dongola Unit District 66

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