Dupage Policy Journal

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Monday, December 16, 2019

Former state school employee MacHalinski paid in $174K to teachers' pension fund, could collect $3.61M in retirement

Schools

By Local Labs News Service | Jun 1, 2018

Money 03

Former state school employee Mary MacHalinski, who retired in May 2018, saved $173,624 toward a pension over 26 years working for public schools, Teachers' Retirement System of the State of Illinois records show.

Over 30 years of retirement, MacHalinski would collect as much as $3.61 million, according to a projection by Local Government Information Services (LGIS), which publishes DuPage Policy Journal.

The projection assumes MacHalinski received $75,901 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, MacHalinski will have already received $234,602 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

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Elmhurst Community Unit School District 205

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