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Peoria Standard

Tuesday, November 26, 2024

Former state school employee Koehler paid in $130K to teachers' pension fund, could collect $2.73M in retirement

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Former state school employee Marsha Koehler, who retired in May 2018, saved $130,271 toward a pension over 33 years working for public schools, Teachers' Retirement System of the State of Illinois records show.

Over 30 years of retirement, Koehler would collect as much as $2.73 million, according to a projection by Local Government Information Services (LGIS), which publishes Peoria Standard.

The projection assumes Koehler received $57,357 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Koehler will have already received $177,285 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

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