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Kane County Reporter

Monday, November 25, 2024

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

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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.

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