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North Cook News

Monday, March 31, 2025

Former state school employee Kavanaugh paid in $153K to teachers' pension fund, could collect $3.57M in retirement

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Former state school employee Margaret Kavanaugh, who retired in June 2018, saved $153,446 toward a pension over 29 years working for public schools, Teachers' Retirement System of the State of Illinois records show.

Over 30 years of retirement, Kavanaugh would collect as much as $3.57 million, according to a projection by Local Government Information Services (LGIS), which publishes North Cook News.

The projection assumes Kavanaugh received $75,137 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Kavanaugh will have already received $232,241 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

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