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Rockford Sun

Wednesday, December 25, 2024

Former state school employee Kellogg paid in $121K to teachers' pension fund, could collect $2.33M in retirement

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Former state school employee Jeanette Kellogg, who retired in May 2017, saved $121,222 toward a pension over 35 years working for public schools, Teachers' Retirement System of the State of Illinois records show.

Over 30 years of retirement, Kellogg would collect as much as $2.33 million, according to a projection by Local Government Information Services (LGIS), which publishes Rockford Sun.

The projection assumes Kellogg received $48,990 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Kellogg will have already received $151,424 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

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