Former state school employee MacKinnon paid in $176K to teachers' pension fund, could collect $4.08M in retirement

By Local Labs News Service

Jul 1, 2017

Former state school employee Kathleen MacKinnon, who retired in June 2017, saved $175,722 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, MacKinnon would collect as much as $4.08 million, according to a projection by Local Government Information Services (LGIS), which publishes Peoria Standard.

The projection assumes MacKinnon received $85,681 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, MacKinnon will have already received $264,831 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

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Oak Grove School District 68

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