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Macon Reporter

Wednesday, November 6, 2024

Former state school employee Kileen paid in $2K to teachers' pension fund, could collect $47K in retirement

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Former state school employee Donna Kileen, who retired in May 2018, saved $1,731 toward a pension over 1 years working for public schools, Teachers' Retirement System of the State of Illinois records show.

Over 30 years of retirement, Kileen would collect as much as $46,819, according to a projection by Local Government Information Services (LGIS), which publishes Macon Reporter.

The projection assumes Kileen received $984 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 2 years of retirement, Kileen will have already received $1,998 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

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