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West Central Reporter

Saturday, November 23, 2024

Former state school employee Kiifner paid in $84K to teachers' pension fund, could collect $1.76M in retirement

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Former state school employee Kathryn Kiifner, who retired in May 2016, saved $84,276 toward a pension over 29 years working for public schools, Teachers' Retirement System of the State of Illinois records show.

Over 30 years of retirement, Kiifner would collect as much as $1.76 million, according to a projection by Local Government Information Services (LGIS), which publishes West Central Reporter.

The projection assumes Kiifner received $37,066 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Kiifner will have already received $114,567 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

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