Former state school employee Kittinger paid in $146K to teachers' pension fund, could collect $3.03M in retirement

By Local Labs News Service

Jun 1, 2017

Former state school employee Billy Kittinger, who retired in May 2017, saved $146,242 toward a pension over 37 years working for public schools, Teachers' Retirement System of the State of Illinois records show.

Over 30 years of retirement, Kittinger would collect as much as $3.03 million, according to a projection by Local Government Information Services (LGIS), which publishes SE Illinois News.

The projection assumes Kittinger received $63,693 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Kittinger will have already received $196,869 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

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Eldorado Community Unit School District 4

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