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Kankakee Times

Tuesday, April 16, 2024

Former state school employee Endres paid in $126K to teachers' pension fund, could collect $2.74M in retirement

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Former state school employee Kathleen Endres, who retired in June 2018, saved $126,117 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, Endres would collect as much as $2.74 million, according to a projection by Local Government Information Services (LGIS), which publishes Kankakee Times.

The projection assumes Endres received $57,568 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Endres will have already received $177,937 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

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