Former state school employee Kivlahan paid in $140K to teachers' pension fund, could collect $2.67M in retirement

By Local Labs News Service

Sep 1, 2018

Former state school employee Amy Kivlahan, who retired in August 2018, saved $140,222 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, Kivlahan would collect as much as $2.67 million, according to a projection by Local Government Information Services (LGIS), which publishes NW Illinois News.

The projection assumes Kivlahan received $56,209 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Kivlahan will have already received $173,736 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

ORGANIZATIONS IN THIS STORY

Sterling Community Unit District 5 Board

!RECEIVE ALERTS

The next time we write about any of these orgs, we’ll email you a link to the story. You may edit your settings or unsubscribe at any time.

Sign-up

DONATE

Help support the Metric Media Foundation's mission to restore community based news.

Donate