Quantcast

Peoria Standard

Tuesday, April 16, 2024

Former state school employee Kochman paid in $144K to teachers' pension fund, could collect $2.19M in retirement

Shutterstock 385535740

Former state school employee Cheryl Kochman, who retired in May 2018, saved $143,509 toward a pension over 24 years working for public schools, Teachers' Retirement System of the State of Illinois records show.

Over 30 years of retirement, Kochman would collect as much as $2.19 million, according to a projection by Local Government Information Services (LGIS), which publishes Peoria Standard.

The projection assumes Kochman received $46,051 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 4 years of retirement, Kochman will have already received $192,662 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

ORGANIZATIONS IN THIS STORY

!RECEIVE ALERTS

The next time we write about any of these orgs, we’ll email you a link to the story. You may edit your settings or unsubscribe at any time.
Sign-up

DONATE

Help support the Metric Media Foundation's mission to restore community based news.
Donate

MORE NEWS