Former state school employee Kimes paid in $164K to teachers' pension fund, could collect $4.16M in retirement

By Local Labs News Service

Jul 1, 2016

Former state school employee Lori Kimes, who retired in June 2016, saved $164,015 toward a pension over 36 years working for public schools, Teachers' Retirement System of the State of Illinois records show.

Over 30 years of retirement, Kimes would collect as much as $4.16 million, according to a projection by Local Government Information Services (LGIS), which publishes Illinois Valley Times.

The projection assumes Kimes received $87,390 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 2 years of retirement, Kimes will have already received $177,402 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

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Ottawa Elementary School District 141

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