Former state school employee Challandes paid in $60K to teachers' pension fund, could collect $886K in retirement

By Local Labs News Service

Mar 1, 2016

Former state school employee Kim Challandes, who retired in February 2016, saved $59,811 toward a pension over 15 years working for public schools, Teachers' Retirement System of the State of Illinois records show.

Over 30 years of retirement, Challandes would collect as much as $885,953, according to a projection by Local Government Information Services (LGIS), which publishes Metro East Sun.

The projection assumes Challandes received $18,622 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 4 years of retirement, Challandes will have already received $77,908 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

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