Former state school employee McBride paid in $53K to teachers' pension fund, could collect $795K in retirement

By Local Labs News Service

Jun 1, 2018

Former state school employee Carol McBride, who retired in May 2018, saved $53,335 toward a pension over 14 years working for public schools, Teachers' Retirement System of the State of Illinois records show.

Over 30 years of retirement, McBride would collect as much as $794,728, according to a projection by Local Government Information Services (LGIS), which publishes North Egypt News.

The projection assumes McBride received $16,704 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 4 years of retirement, McBride will have already received $69,883 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

ORGANIZATIONS IN THIS STORY

Woodlawn Unit District 209 Board

!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