Former state school employee McClure paid in $110K to teachers' pension fund, could collect $3.19M in retirement

By Local Labs News Service

Mar 1, 2017

Former state school employee Nancy McClure, who retired in February 2017, saved $110,374 toward a pension over 27 years working for public schools, Teachers' Retirement System of the State of Illinois records show.

Over 30 years of retirement, McClure would collect as much as $3.19 million, according to a projection by Local Government Information Services (LGIS), which publishes North Cook News.

The projection assumes McClure received $66,970 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 2 years of retirement, McClure will have already received $135,949 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

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Palatine School District 211

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