Former state school employee McGinnis paid in $109K to teachers' pension fund, could collect $2.09M in retirement

By Local Labs News Service

Jun 1, 2018

Former state school employee Tammy McGinnis, who retired in May 2018, saved $109,364 toward a pension over 27 years working for public schools, Teachers' Retirement System of the State of Illinois records show.

Over 30 years of retirement, McGinnis would collect as much as $2.09 million, according to a projection by Local Government Information Services (LGIS), which publishes Kendall County Times.

The projection assumes McGinnis received $43,939 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, McGinnis will have already received $135,811 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

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Plano Community Unit School District 88

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