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Sangamon Sun

Tuesday, May 13, 2025

Former state school employee McMillan paid in $16K to teachers' pension fund, could collect $748K in retirement

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Former state school employee Sandra McMillan, who retired in August 2016, saved $16,493 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, McMillan would collect as much as $748,313, according to a projection by Local Government Information Services (LGIS), which publishes Sangamon Sun.

The projection assumes McMillan received $15,729 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 2 years of retirement, McMillan will have already received $31,930 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

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