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Former state school employee MacLean paid in $151K to teachers' pension fund, could collect $4.46M in retirement

Schools

By Local Labs News Service | Jul 1, 2017

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Former state school employee Janis MacLean, who retired in June 2017, saved $151,115 toward a pension over 36 years working for public schools, Teachers' Retirement System of the State of Illinois records show.

Over 30 years of retirement, MacLean would collect as much as $4.46 million, according to a projection by Local Government Information Services (LGIS), which publishes DuPage Policy Journal.

The projection assumes MacLean received $93,646 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 2 years of retirement, MacLean will have already received $190,101 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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