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Kane County Reporter

Monday, November 25, 2024

Former state school employee Koch paid in $120K to teachers' pension fund, could collect $2.16M in retirement

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Former state school employee Linda Koch, who retired in June 2018, saved $119,647 toward a pension over 22 years working for public schools, Teachers' Retirement System of the State of Illinois records show.

Over 30 years of retirement, Koch would collect as much as $2.16 million, according to a projection by Local Government Information Services (LGIS), which publishes Kane County Reporter.

The projection assumes Koch received $45,500 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Koch will have already received $140,636 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

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