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Macon Reporter

Monday, December 23, 2024

Former state school employee Flannigan paid in $130K to teachers' pension fund, could collect $3.05M in retirement

Money272

Former state school employee Sheree Flannigan, who retired in May 2017, saved $130,155 toward a pension over 33 years working for public schools, Teachers' Retirement System of the State of Illinois records show.

Over 30 years of retirement, Flannigan would collect as much as $3.05 million, according to a projection by Local Government Information Services (LGIS), which publishes Macon Reporter.

The projection assumes Flannigan received $64,084 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Flannigan will have already received $198,078 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

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