Quantcast

North Cook News

Saturday, June 21, 2025

Former state school employee Kelley paid in $184K to teachers' pension fund, could collect $3.75M in retirement

Money 02

Former state school employee John Kelley, who retired in May 2016, saved $183,845 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, Kelley would collect as much as $3.75 million, according to a projection by Local Government Information Services (LGIS), which publishes North Cook News.

The projection assumes Kelley received $78,719 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Kelley will have already received $243,313 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

MORE NEWS