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North Cook News

Saturday, August 2, 2025

Former state school employee Kelly paid in $129K to teachers' pension fund, could collect $2.62M in retirement

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Former state school employee Colleen Kelly, who retired in June 2018, saved $128,741 toward a pension over 23 years working for public schools, Teachers' Retirement System of the State of Illinois records show.

Over 30 years of retirement, Kelly would collect as much as $2.62 million, according to a projection by Local Government Information Services (LGIS), which publishes North Cook News.

The projection assumes Kelly received $55,006 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Kelly will have already received $170,018 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

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