Former state school employee McClintic paid in $72K to teachers' pension fund, could collect $1.36M in retirement

By Local Labs News Service

Jul 1, 2016

Former state school employee Lori McClintic, who retired in June 2016, saved $71,770 toward a pension over 19 years working for public schools, Teachers' Retirement System of the State of Illinois records show.

Over 30 years of retirement, McClintic would collect as much as $1.36 million, according to a projection by Local Government Information Services (LGIS), which publishes Kendall County Times.

The projection assumes McClintic received $28,563 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, McClintic will have already received $88,286 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