Quantcast

Kane County Reporter

Saturday, September 28, 2024

Former state school employee Keck paid in $153K to teachers' pension fund, could collect $3.9M in retirement

Shutterstock 443523118

Former state school employee Robert Keck, who retired in May 2016, saved $153,023 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, Keck would collect as much as $3.9 million, according to a projection by Local Government Information Services (LGIS), which publishes Kane County Reporter.

The projection assumes Keck received $82,068 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 2 years of retirement, Keck will have already received $166,598 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

ORGANIZATIONS IN THIS STORY

!RECEIVE ALERTS

The next time we write about any of these orgs, we’ll email you a link to the story. You may edit your settings or unsubscribe at any time.
Sign-up

DONATE

Help support the Metric Media Foundation's mission to restore community based news.
Donate

MORE NEWS