Former state school employee McFall paid in $132K to teachers' pension fund, could collect $2.21M in retirement

By Local Labs News Service

Apr 1, 2016

Former state school employee Becky McFall, who retired in March 2016, saved $132,033 toward a pension over 23 years working for public schools, Teachers' Retirement System of the State of Illinois records show.

Over 30 years of retirement, McFall would collect as much as $2.21 million, according to a projection by Local Government Information Services (LGIS), which publishes Illinois Valley Times.

The projection assumes McFall received $46,410 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, McFall will have already received $143,448 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

ORGANIZATIONS IN THIS STORY

Illinois State Board Of Education

!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