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South Cook News

Sunday, April 20, 2025

Former state school employee Kelly paid in $70K to teachers' pension fund, could collect $926K in retirement

Money 07

Former state school employee Joann Kelly, who retired in June 2018, saved $69,691 toward a pension over 14 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 $926,087, according to a projection by Local Government Information Services (LGIS), which publishes South Cook News.

The projection assumes Kelly received $19,465 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 4 years of retirement, Kelly will have already received $81,434 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

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