Will County Gazette

Will County Gazette

Monday, October 14, 2019

Former state school employee Vonch paid in $108K to teachers' pension fund, could collect $1.99M in retirement

Schools

By Local Labs News Service | Jun 1, 2016


Former state school employee Joseph Vonch, who retired in May 2016, saved $107,771 toward a pension over 31 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 $1.99 million, according to a projection by Local Government Information Services (LGIS), which publishes Will County Gazette.

The projection assumes Vonch received $41,752 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Vonch will have already received $129,052 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

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Frankfort Community Consolidated School District 157C

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