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McHenry Times

Wednesday, November 27, 2024

Former state school employee Kamen paid in $105K to teachers' pension fund, could collect $1.15M in retirement

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Former state school employee Maribeth Kamen, who retired in November 2017, saved $104,883 toward a pension over 18 years working for public schools, Teachers' Retirement System of the State of Illinois records show.

Over 30 years of retirement, Kamen would collect as much as $1.15 million, according to a projection by Local Government Information Services (LGIS), which publishes McHenry Times.

The projection assumes Kamen received $24,232 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 5 years of retirement, Kamen will have already received $128,651 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

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