Former state school employee MacCabee paid in $186K to teachers' pension fund, could collect $4.16M in retirement

By Rock Island Today Reports

Jul 1, 2016

Former state school employee David MacCabee, who retired in June 2016, saved $185,785 toward a pension over 35 years working for public schools, Teachers' Retirement System of the State of Illinois records show.

Over 30 years of retirement, MacCabee would collect as much as $4.16 million, according to a projection by Local Government Information Services (LGIS), which publishes Rock Island Today.

The projection assumes MacCabee received $87,447 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, MacCabee will have already received $270,289 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

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United Township High School District 30 Board

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