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Kendall County Times

Saturday, November 23, 2024

Former state school employee Kania paid in $122K to teachers' pension fund, could collect $2.5M in retirement

Money041

Former state school employee Melissa Kania, who retired in June 2016, saved $122,337 toward a pension over 30 years working for public schools, Teachers' Retirement System of the State of Illinois records show.

Over 30 years of retirement, Kania would collect as much as $2.5 million, according to a projection by Local Government Information Services (LGIS), which publishes Kendall County Times.

The projection assumes Kania received $52,614 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Kania will have already received $162,624 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

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