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McHenry Times

Sunday, June 29, 2025

Former state school employee Manning paid in $73K to teachers' pension fund, could collect $1.29M in retirement

Money 08

Former state school employee Mary Manning, who retired in May 2017, saved $72,891 toward a pension over 17 years working for public schools, Teachers' Retirement System of the State of Illinois records show.

Over 30 years of retirement, Manning would collect as much as $1.29 million, according to a projection by Local Government Information Services (LGIS), which publishes McHenry Times.

The projection assumes Manning received $27,091 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Manning will have already received $83,736 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

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