Former state school employee Kennedy paid in $61K to teachers' pension fund, could collect $855K in retirement

By Local Labs News Service

Jan 1, 2017

Former state school employee Latoy Kennedy, who retired in December 2016, saved $60,970 toward a pension over 5 years working for public schools, Teachers' Retirement System of the State of Illinois records show.

Over 30 years of retirement, Kennedy would collect as much as $855,124, according to a projection by Local Government Information Services (LGIS), which publishes Peoria Standard.

The projection assumes Kennedy received $17,974 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 4 years of retirement, Kennedy will have already received $75,195 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

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Peoria School District 150 Board

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