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Will County Gazette

Thursday, April 18, 2024

Former state school employee Kaleciak paid in $40K to teachers' pension fund, could collect $1.06M in retirement

Money 07

Former state school employee Kristen Kaleciak, who retired in January 2017, saved $39,877 toward a pension over 11 years working for public schools, Teachers' Retirement System of the State of Illinois records show.

Over 30 years of retirement, Kaleciak would collect as much as $1.06 million, according to a projection by Local Government Information Services (LGIS), which publishes Will County Gazette.

The projection assumes Kaleciak received $22,284 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 2 years of retirement, Kaleciak will have already received $45,237 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

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