Former state school employee Musgrave paid in $128K to teachers' pension fund, could collect $2.76M in retirement

By Local Labs News Service

Jun 1, 2017

Former state school employee Mary Musgrave, who retired in May 2017, saved $127,757 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, Musgrave would collect as much as $2.76 million, according to a projection by Local Government Information Services (LGIS), which publishes SE Illinois News.

The projection assumes Musgrave received $57,922 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Musgrave will have already received $179,032 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

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Fairfield Community High School District 225 Board

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