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Kane County Reporter

Friday, April 19, 2024

Former state school employee Vonch paid in $115K to teachers' pension fund, could collect $2.45M in retirement

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Former state school employee Cheryl Vonch, who retired in June 2018, saved $114,998 toward a pension over 26 years working for public schools, Teachers' Retirement System of the State of Illinois records show.

Over 30 years of retirement, Vonch would collect as much as $2.45 million, according to a projection by Local Government Information Services (LGIS), which publishes Kane County Reporter.

The projection assumes Vonch received $51,438 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Vonch will have already received $158,989 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

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