Former state school employee MacK paid in $215K to teachers' pension fund, could collect $5.64M in retirement

By Local Labs News Service

Jul 1, 2016

Former state school employee John MacK, who retired in June 2016, saved $214,870 toward a pension over 43 years working for public schools, Teachers' Retirement System of the State of Illinois records show.

Over 30 years of retirement, MacK would collect as much as $5.64 million, according to a projection by Local Government Information Services (LGIS), which publishes Sangamon Sun.

The projection assumes MacK received $118,474 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 2 years of retirement, MacK will have already received $240,502 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

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Barrington Community Unit School District 220

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