South Cook News

South Cook News

Sunday, December 8, 2019

Former state school employee Benain paid in $98K to teachers' pension fund, could collect $1.89M in retirement

Schools

By Local Labs News Service | Jan 1, 2018

Shutterstock 249974521

Former state school employee Kim Benain, who retired in December 2017, saved $97,774 toward a pension over 26 years working for public schools, Teachers' Retirement System of the State of Illinois records show.

Over 30 years of retirement, Benain would collect as much as $1.89 million, according to a projection by Local Government Information Services (LGIS), which publishes South Cook News.

The projection assumes Benain received $39,716 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Benain will have already received $122,757 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

Want to get notified whenever we write about Indian Springs School District 109 ?

Sign-up Next time we write about Indian Springs School District 109, we'll email you a link to the story. You may edit your settings or unsubscribe at any time.

Organizations in this Story

Indian Springs School District 109

More News