Former state school employee Kiepura paid in $178K to teachers' pension fund, could collect $4.64M in retirement

By Local Labs News Service

Jun 1, 2016

Former state school employee Mary Kiepura, who retired in May 2016, saved $178,004 toward a pension over 43 years working for public schools, Teachers' Retirement System of the State of Illinois records show.

Over 30 years of retirement, Kiepura would collect as much as $4.64 million, according to a projection by Local Government Information Services (LGIS), which publishes Lake County Gazette.

The projection assumes Kiepura received $97,472 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 2 years of retirement, Kiepura will have already received $197,868 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

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Barrington Community Unit School District 220

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