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Macon Reporter

Sunday, December 22, 2024

Former state school employee Fitzgerald paid in $121K to teachers' pension fund, could collect $2.72M in retirement

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Former state school employee Leanne Fitzgerald, who retired in May 2017, saved $120,507 toward a pension over 32 years working for public schools, Teachers' Retirement System of the State of Illinois records show.

Over 30 years of retirement, Fitzgerald would collect as much as $2.72 million, according to a projection by Local Government Information Services (LGIS), which publishes Macon Reporter.

The projection assumes Fitzgerald received $57,072 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Fitzgerald will have already received $176,404 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

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