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Carbondale Reporter

Wednesday, November 6, 2024

Former state school employee McClurken paid in $66K to teachers' pension fund, could collect $1.23M in retirement

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Former state school employee Mark McClurken, who retired in November 2018, saved $65,749 toward a pension over 20 years working for public schools, Teachers' Retirement System of the State of Illinois records show.

Over 30 years of retirement, McClurken would collect as much as $1.23 million, according to a projection by Local Government Information Services (LGIS), which publishes Carbondale Reporter.

The projection assumes McClurken received $25,900 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, McClurken will have already received $80,054 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

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