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Sangamon Sun

Friday, November 22, 2024

Former state school employee Perala paid in $57K to teachers' pension fund, could collect $760K in retirement

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Former state school employee Kimber Perala, who retired in May 2018, saved $57,023 toward a pension over 14 years working for public schools, Teachers' Retirement System of the State of Illinois records show.

Over 30 years of retirement, Perala would collect as much as $759,566, according to a projection by Local Government Information Services (LGIS), which publishes Sangamon Sun.

The projection assumes Perala received $15,965 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 4 years of retirement, Perala will have already received $66,791 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

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