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Sangamon Sun

Friday, April 19, 2024

Former state school employee Kliment paid in $38K to teachers' pension fund, could collect $520K in retirement

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Former state school employee Kim Kliment, who retired in September 2017, saved $37,710 toward a pension over 10 years working for public schools, Teachers' Retirement System of the State of Illinois records show.

Over 30 years of retirement, Kliment would collect as much as $519,517, according to a projection by Local Government Information Services (LGIS), which publishes Sangamon Sun.

The projection assumes Kliment received $10,919 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 4 years of retirement, Kliment will have already received $45,682 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

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