Former state school employee Murphy paid in $312K to teachers' pension fund, could collect $7.6M in retirement

By Local Labs News Service

Jul 1, 2018

Former state school employee Edmund Murphy, who retired in June 2018, saved $311,585 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, Murphy would collect as much as $7.6 million, according to a projection by Local Government Information Services (LGIS), which publishes North Cook News.

The projection assumes Murphy received $159,660 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 2 years of retirement, Murphy will have already received $324,110 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

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Niles Township Community High School District 219 Board

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