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Will County Gazette

Saturday, November 23, 2024

Former state school employee Popek paid in $164K to teachers' pension fund, could collect $3.94M in retirement

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Former state school employee Cheryl Popek, who retired in June 2016, saved $163,585 toward a pension over 35 years working for public schools, Teachers' Retirement System of the State of Illinois records show.

Over 30 years of retirement, Popek would collect as much as $3.94 million, according to a projection by Local Government Information Services (LGIS), which publishes Will County Gazette.

The projection assumes Popek received $82,897 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 2 years of retirement, Popek will have already received $168,281 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

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