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South Cook News

Friday, May 17, 2024

Former state school employee Epich paid in $165K to teachers' pension fund, could collect $3.86M in retirement

Money041

Former state school employee Susan Epich, who retired in May 2016, saved $165,154 toward a pension over 38 years working for public schools, Teachers' Retirement System of the State of Illinois records show.

Over 30 years of retirement, Epich would collect as much as $3.86 million, according to a projection by Local Government Information Services (LGIS), which publishes South Cook News.

The projection assumes Epich received $81,075 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Epich will have already received $250,594 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

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