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West Cook News

Monday, April 21, 2025

Former state school employee Leamy paid in $145K to teachers' pension fund, could collect $3.83M in retirement

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Former state school employee Margaret Leamy, who retired in June 2017, saved $144,828 toward a pension over 31 years working for public schools, Teachers' Retirement System of the State of Illinois records show.

Over 30 years of retirement, Leamy would collect as much as $3.83 million, according to a projection by Local Government Information Services (LGIS), which publishes West Cook News.

The projection assumes Leamy received $80,468 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 2 years of retirement, Leamy will have already received $163,350 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

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