Former state school employee O'Brien paid in $187K to teachers' pension fund, could collect $4.7M in retirement

By Local Labs News Service

Jul 1, 2017

Former state school employee Kelly O'Brien, who retired in June 2017, saved $187,321 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, O'Brien would collect as much as $4.7 million, according to a projection by Local Government Information Services (LGIS), which publishes North Cook News.

The projection assumes O'Brien received $98,698 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 2 years of retirement, O'Brien will have already received $200,357 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

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Elgin Area School District U46

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