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Kane County Reporter

Monday, December 23, 2024

Former state school employee Edgar paid in $112K to teachers' pension fund, could collect $1.79M in retirement

Money 05

Former state school employee Kathryn Edgar, who retired in March 2016, saved $112,062 toward a pension over 25 years working for public schools, Teachers' Retirement System of the State of Illinois records show.

Over 30 years of retirement, Edgar would collect as much as $1.79 million, according to a projection by Local Government Information Services (LGIS), which publishes Kane County Reporter.

The projection assumes Edgar received $37,682 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Edgar will have already received $116,470 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

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