Quantcast

North Cook News

Sunday, April 27, 2025

Former state school employee Donehey paid in $240K to teachers' pension fund, could collect $5.1M in retirement

Shutterstock 373239541

Former state school employee Maureen Donehey, who retired in May 2017, saved $239,511 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, Donehey would collect as much as $5.1 million, according to a projection by Local Government Information Services (LGIS), which publishes North Cook News.

The projection assumes Donehey received $107,252 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Donehey will have already received $331,506 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

MORE NEWS