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West Cook News

Saturday, April 5, 2025

Former state school employee McGeary paid in $51K to teachers' pension fund, could collect $760K in retirement

Money 06

Former state school employee Marianne McGeary, who retired in June 2017, saved $50,899 toward a pension over 8 years working for public schools, Teachers' Retirement System of the State of Illinois records show.

Over 30 years of retirement, McGeary would collect as much as $760,342, according to a projection by Local Government Information Services (LGIS), which publishes West Cook News.

The projection assumes McGeary received $15,981 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 4 years of retirement, McGeary will have already received $66,858 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

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