Quantcast

Will County Gazette

Sunday, November 24, 2024

Former state school employee Kooi paid in $65K to teachers' pension fund, could collect $1.01M in retirement

Shutterstock 225154648

Former state school employee Loreen Kooi, who retired in May 2016, saved $64,805 toward a pension over 15 years working for public schools, Teachers' Retirement System of the State of Illinois records show.

Over 30 years of retirement, Kooi would collect as much as $1.01 million, according to a projection by Local Government Information Services (LGIS), which publishes Will County Gazette.

The projection assumes Kooi received $21,252 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Kooi will have already received $65,689 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

ORGANIZATIONS IN THIS STORY

!RECEIVE ALERTS

The next time we write about any of these orgs, we’ll email you a link to the story. You may edit your settings or unsubscribe at any time.
Sign-up

DONATE

Help support the Metric Media Foundation's mission to restore community based news.
Donate

MORE NEWS