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Sangamon Sun

Tuesday, October 7, 2025

Former state school employee McCarthy paid in $127K to teachers' pension fund, could collect $1.82M in retirement

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Former state school employee Janeen McCarthy, who retired in February 2017, saved $127,318 toward a pension over 25 years working for public schools, Teachers' Retirement System of the State of Illinois records show.

Over 30 years of retirement, McCarthy would collect as much as $1.82 million, according to a projection by Local Government Information Services (LGIS), which publishes Sangamon Sun.

The projection assumes McCarthy received $38,155 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 4 years of retirement, McCarthy will have already received $159,627 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

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