Former state school employee Kelly paid in $173K to teachers' pension fund, could collect $3.72M in retirement

By Local Labs News Service

Jun 1, 2016

Former state school employee Kathy Kelly, who retired in May 2016, saved $172,586 toward a pension over 34 years working for public schools, Teachers' Retirement System of the State of Illinois records show.

Over 30 years of retirement, Kelly would collect as much as $3.72 million, according to a projection by Local Government Information Services (LGIS), which publishes Lake County Gazette.

The projection assumes Kelly received $78,177 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Kelly will have already received $241,637 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

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Community High School District 117

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