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Kendall County Times

Monday, November 25, 2024

Former state school employee Pearce paid in $150K to teachers' pension fund, could collect $3.2M in retirement

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Former state school employee Kimberly Pearce, who retired in December 2018, saved $149,503 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, Pearce would collect as much as $3.2 million, according to a projection by Local Government Information Services (LGIS), which publishes Kendall County Times.

The projection assumes Pearce received $67,263 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Pearce will have already received $207,903 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

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