Former state school employee McCauley paid in $165K to teachers' pension fund, could collect $3.27M in retirement

By Local Labs News Service

Jun 1, 2016

Former state school employee Kimberly McCauley, who retired in May 2016, saved $165,035 toward a pension over 33 years working for public schools, Teachers' Retirement System of the State of Illinois records show.

Over 30 years of retirement, McCauley would collect as much as $3.27 million, according to a projection by Local Government Information Services (LGIS), which publishes Kendall County Times.

The projection assumes McCauley received $68,720 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, McCauley will have already received $212,407 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

ORGANIZATIONS IN THIS STORY

Kendall Cnty Special Educ

!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