Former state school employee McGuire paid in $223K to teachers' pension fund, could collect $4.85M in retirement

By Rock Island Today Reports

Jul 1, 2018

Former state school employee Danny McGuire, who retired in June 2018, saved $223,102 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, McGuire would collect as much as $4.85 million, according to a projection by Local Government Information Services (LGIS), which publishes Rock Island Today.

The projection assumes McGuire received $102,018 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, McGuire will have already received $315,328 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

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Moline Coal Valley Community Unit School District 40

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