Former state school employee McDonald paid in $110K to teachers' pension fund, could collect $2.22M in retirement

By West Cook News

Jul 1, 2018

Former state school employee Lynda McDonald, who retired in June 2018, saved $109,988 toward a pension over 29 years working for public schools, Teachers' Retirement System of the State of Illinois records show.

Over 30 years of retirement, McDonald would collect as much as $2.22 million, according to a projection by Local Government Information Services (LGIS), which publishes West Cook News.

The projection assumes McDonald received $46,686 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, McDonald will have already received $144,303 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

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Bellwood School District 88

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