Quantcast

Peoria Standard

Thursday, November 28, 2024

Former state school employee McArdle paid in $126K to teachers' pension fund, could collect $2.17M in retirement

Shutterstock 225154648

Former state school employee Julie McArdle, who retired in October 2018, saved $126,418 toward a pension over 31 years working for public schools, Teachers' Retirement System of the State of Illinois records show.

Over 30 years of retirement, McArdle would collect as much as $2.17 million, according to a projection by Local Government Information Services (LGIS), which publishes Peoria Standard.

The projection assumes McArdle received $45,631 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, McArdle will have already received $141,041 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

ORGANIZATIONS IN THIS STORY

!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