Palatine CCSD 15 Kaliski paid in $39K to teachers pension fund, could collect $2.0 million in retirement
Retired Palatine CCSD 15 employee Lynn Kaliski saved $38,967 toward her pension over 26 years working for public schools, Illinois Teachers' Retirement Fund (TRS) records show.
Over 35 years of retirement, Kaliski would collect as much as $1.96 million, according to a projection by Local Government Information Services (LGIS), which publishes North Cook News.
Kaliski, 60, who currently lives in Palatine, earned $7,791 in her final year at Palatine CCSD 15.
The projection assumes Kaliski will receive $30,380 in her first year of retirement, then 3 percent annual increases thereafter, compounded.
After three years of retirement, Kaliski will have already received $93,902 in retirement benefits, or more than the sum total of her contributions to the state teachers' pension fund.
According to the Illinois State Board of Education (ISBE), 42.5 percent of Palatine CCSD 15 students met or exceeded the standards for the "PARCC" exams.