Former state school employee Kennedy paid in $53K to teachers' pension fund, could collect $786K in retirement

By Local Labs News Service

Jun 1, 2018

Former state school employee Lori Kennedy, who retired in May 2018, saved $52,848 toward a pension over 13 years working for public schools, Teachers' Retirement System of the State of Illinois records show.

Over 30 years of retirement, Kennedy would collect as much as $786,050, according to a projection by Local Government Information Services (LGIS), which publishes NW Illinois News.

The projection assumes Kennedy received $16,522 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 4 years of retirement, Kennedy will have already received $69,124 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

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Morrison Community Unit School District 6

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