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Kane County Reporter

Monday, November 25, 2024

Former state school employee Kessler paid in $181K to teachers' pension fund, could collect $3.82M in retirement

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Former state school employee Carol Kessler, who retired in May 2016, saved $180,599 toward a pension over 34 years working for public schools, Teachers' Retirement System of the State of Illinois records show.

Over 30 years of retirement, Kessler would collect as much as $3.82 million, according to a projection by Local Government Information Services (LGIS), which publishes Kane County Reporter.

The projection assumes Kessler received $80,238 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Kessler will have already received $248,007 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

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