Former state school employee Marchman paid in $125K to teachers' pension fund, could collect $3.16M in retirement

By Local Labs News Service

Jul 1, 2018

Former state school employee Melissa Marchman, who retired in June 2018, saved $125,200 toward a pension over 36 years working for public schools, Teachers' Retirement System of the State of Illinois records show.

Over 30 years of retirement, Marchman would collect as much as $3.16 million, according to a projection by Local Government Information Services (LGIS), which publishes Lake County Gazette.

The projection assumes Marchman received $66,402 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 2 years of retirement, Marchman will have already received $134,796 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

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Antioch Community Consolidated School District 34 Board

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