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McHenry Times

Friday, April 26, 2024

Former state school employee Marsh paid in $151K to teachers' pension fund, could collect $3.67M in retirement

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Former state school employee Connie Marsh, who retired in May 2018, saved $151,230 toward a pension over 35 years working for public schools, Teachers' Retirement System of the State of Illinois records show.

Over 30 years of retirement, Marsh would collect as much as $3.67 million, according to a projection by Local Government Information Services (LGIS), which publishes McHenry Times.

The projection assumes Marsh received $77,065 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 2 years of retirement, Marsh will have already received $156,442 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

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