Former state school employee Flynn paid in $124K to teachers' pension fund, could collect $2.97M in retirement

By Local Labs News Service

Jul 1, 2017

Former state school employee Mary Flynn, who retired in June 2017, saved $123,807 toward a pension over 24 years working for public schools, Teachers' Retirement System of the State of Illinois records show.

Over 30 years of retirement, Flynn would collect as much as $2.97 million, according to a projection by Local Government Information Services (LGIS), which publishes Lake County Gazette.

The projection assumes Flynn received $62,421 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 2 years of retirement, Flynn will have already received $126,715 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

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Lake Forest School District 67

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