Former state school employee McWethy paid in $89K to teachers' pension fund, could collect $2.13M in retirement

By Local Labs News Service

Dec 1, 2018

Former state school employee Martha McWethy, who retired in November 2018, saved $89,141 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, McWethy would collect as much as $2.13 million, according to a projection by Local Government Information Services (LGIS), which publishes NW Illinois News.

The projection assumes McWethy received $44,681 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 2 years of retirement, McWethy will have already received $90,702 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

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Dixon Unit School District 170

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