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North Egypt News

Friday, April 19, 2024

Former state school employee Keller paid in $102K to teachers' pension fund, could collect $2.32M in retirement

Money 05

Former state school employee Laura Keller, who retired in May 2017, saved $102,140 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, Keller would collect as much as $2.32 million, according to a projection by Local Government Information Services (LGIS), which publishes North Egypt News.

The projection assumes Keller received $48,760 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Keller will have already received $150,713 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

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