Quantcast

South Central Reporter

Saturday, November 23, 2024

Former state school employee Kistler paid in $137K to teachers' pension fund, could collect $2.79M in retirement

Money 02

Former state school employee Keith Kistler, who retired in May 2017, saved $137,058 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, Kistler would collect as much as $2.79 million, according to a projection by Local Government Information Services (LGIS), which publishes South Central Reporter.

The projection assumes Kistler received $58,549 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Kistler will have already received $180,968 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

!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