Former state school employee Hochreiter paid in $124K to teachers' pension fund, could collect $2.57M in retirement

By Local Labs News Service

Jul 1, 2018

Former state school employee Pamela Hochreiter, who retired in June 2018, saved $123,849 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, Hochreiter would collect as much as $2.57 million, according to a projection by Local Government Information Services (LGIS), which publishes Will County Gazette.

The projection assumes Hochreiter received $54,064 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Hochreiter will have already received $167,107 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

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Lincoln-Way Area Special Education District

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