Former state school employee O'Neil paid in $148K to teachers' pension fund, could collect $3.2M in retirement

By West Cook News

Jul 1, 2016

Former state school employee Jean O'Neil, who retired in June 2016, saved $147,790 toward a pension over 32 years working for public schools, Teachers' Retirement System of the State of Illinois records show.

Over 30 years of retirement, O'Neil would collect as much as $3.2 million, according to a projection by Local Government Information Services (LGIS), which publishes West Cook News.

The projection assumes O'Neil received $67,248 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, O'Neil will have already received $207,856 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

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Berwyn South School District 100 Board

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