Former state school employee Hohnstedt paid in $175K to teachers' pension fund, could collect $4.48M in retirement

By Local Labs News Service

Jun 1, 2018

Former state school employee Kathleen Hohnstedt, who retired in May 2018, saved $174,528 toward a pension over 39 years working for public schools, Teachers' Retirement System of the State of Illinois records show.

Over 30 years of retirement, Hohnstedt would collect as much as $4.48 million, according to a projection by Local Government Information Services (LGIS), which publishes Will County Gazette.

The projection assumes Hohnstedt received $94,250 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 2 years of retirement, Hohnstedt will have already received $191,328 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

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Lockport Township High School District 205

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