Former state school employee McCutcheon paid in $133K to teachers' pension fund, could collect $2.9M in retirement

By South West Illinois News Reports

Jun 1, 2016

Former state school employee Debra McCutcheon, who retired in May 2016, saved $132,662 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, McCutcheon would collect as much as $2.9 million, according to a projection by Local Government Information Services (LGIS), which publishes SW Illinois News.

The projection assumes McCutcheon received $60,968 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, McCutcheon will have already received $188,446 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

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Red Bud Community Unit School District 132

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