Former state school employee Magill paid in $179K to teachers' pension fund, could collect $3.04M in retirement

By Local Labs News Service

Jul 1, 2018

Former state school employee Nancy Magill, who retired in June 2018, saved $179,077 toward a pension over 24 years working for public schools, Teachers' Retirement System of the State of Illinois records show.

Over 30 years of retirement, Magill would collect as much as $3.04 million, according to a projection by Local Government Information Services (LGIS), which publishes North Cook News.

The projection assumes Magill received $63,873 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Magill will have already received $197,425 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

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Avoca School District 37

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