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Kane County Reporter

Sunday, September 29, 2024

Former state school employee Kwok paid in $103K to teachers' pension fund, could collect $1.72M in retirement

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Former state school employee Esther Kwok, who retired in May 2016, saved $103,429 toward a pension over 19 years working for public schools, Teachers' Retirement System of the State of Illinois records show.

Over 30 years of retirement, Kwok would collect as much as $1.72 million, according to a projection by Local Government Information Services (LGIS), which publishes Kane County Reporter.

The projection assumes Kwok received $36,190 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Kwok will have already received $111,860 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

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