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Sangamon Sun

Sunday, August 3, 2025

Former state school employee McCannon paid in $105K to teachers' pension fund, could collect $2.13M in retirement

Money 06

Former state school employee Rita McCannon, who retired in June 2017, saved $104,756 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, McCannon would collect as much as $2.13 million, according to a projection by Local Government Information Services (LGIS), which publishes Sangamon Sun.

The projection assumes McCannon received $44,757 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, McCannon will have already received $138,340 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

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