Former state school employee Kling paid in $104K to teachers' pension fund, could collect $1.97M in retirement

By Local Labs News Service

Jul 1, 2016

Former state school employee Joan Kling, who retired in June 2016, saved $103,517 toward a pension over 27 years working for public schools, Teachers' Retirement System of the State of Illinois records show.

Over 30 years of retirement, Kling would collect as much as $1.97 million, according to a projection by Local Government Information Services (LGIS), which publishes Chambana Sun.

The projection assumes Kling received $41,414 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Kling will have already received $128,006 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

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