Former state school employee McTaggart paid in $127K to teachers' pension fund, could collect $2.08M in retirement

By Local Labs News Service

Jul 1, 2017

Former state school employee Theresa McTaggart, who retired in June 2017, saved $126,606 toward a pension over 25 years working for public schools, Teachers' Retirement System of the State of Illinois records show.

Over 30 years of retirement, McTaggart would collect as much as $2.08 million, according to a projection by Local Government Information Services (LGIS), which publishes Illinois Valley Times.

The projection assumes McTaggart received $43,804 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, McTaggart will have already received $135,394 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

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Ottawa Elementary School District 141

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