Former state school employee Kelsay paid in $264K to teachers' pension fund, could collect $5.56M in retirement

Former state school employee Bruce Kelsay, who retired in May 2017, saved $263,613 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, Kelsay would collect as much as $5.56 million, according to a projection by Local Government Information Services (LGIS), which publishes DuPage Policy Journal.

The projection assumes Kelsay received $116,868 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Kelsay will have already received $361,227 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.