Quantcast

North Cook News

Thursday, April 25, 2024

Former state school employee Kaminski paid in $90K to teachers' pension fund, could collect $1.21M in retirement

Money759

Former state school employee Kim Kaminski, who retired in May 2016, saved $89,972 toward a pension over 29 years working for public schools, Teachers' Retirement System of the State of Illinois records show.

Over 30 years of retirement, Kaminski would collect as much as $1.21 million, according to a projection by Local Government Information Services (LGIS), which publishes North Cook News.

The projection assumes Kaminski received $25,427 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 4 years of retirement, Kaminski will have already received $106,378 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

ORGANIZATIONS IN THIS STORY

!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

MORE NEWS