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North Cook News

Sunday, June 22, 2025

Former state school employee Kelly paid in $11K to teachers' pension fund, could collect $126K in retirement

Money 02

Former state school employee Robert Kelly, who retired in October 2017, saved $10,540 toward a pension over 6 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 $126,495, according to a projection by Local Government Information Services (LGIS), which publishes North Cook News.

The projection assumes Kelly received $2,658 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 4 years of retirement, Kelly will have already received $11,121 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

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