North Cook News

North Cook News

Monday, February 17, 2020

Former state school employee Donohue paid in $85K to teachers' pension fund, could collect $1.46M in retirement

Schools

By Local Labs News Service | Nov 1, 2018

Shutterstock 267646277

Former state school employee Cynthia Donohue, who retired in October 2018, saved $84,861 toward a pension over 18 years working for public schools, Teachers' Retirement System of the State of Illinois records show.

Over 30 years of retirement, Donohue would collect as much as $1.46 million, according to a projection by Local Government Information Services (LGIS), which publishes North Cook News.

The projection assumes Donohue received $30,655 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Donohue will have already received $94,752 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

Want to get notified whenever we write about Prospect Heights School District 23 ?

Sign-up Next time we write about Prospect Heights School District 23, we'll email you a link to the story. You may edit your settings or unsubscribe at any time.

Organizations in this Story

Prospect Heights School District 23

More News