Former state school employee Kelly paid in $69K to teachers' pension fund, could collect $2.26M in retirement

By Local Labs News Service

Aug 1, 2018

Former state school employee Keith Kelly, who retired in July 2018, saved $69,056 toward a pension over 18 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 $2.26 million, according to a projection by Local Government Information Services (LGIS), which publishes South Cook News.

The projection assumes Kelly received $47,567 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 2 years of retirement, Kelly will have already received $96,561 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

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Homewood Flossmoor Community High School District 233

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