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South Cook News

Thursday, April 25, 2024

Former state school employee Kocevar paid in $163K to teachers' pension fund, could collect $3.29M in retirement

Money 02

Former state school employee Klara Kocevar, who retired in May 2018, saved $162,844 toward a pension over 30 years working for public schools, Teachers' Retirement System of the State of Illinois records show.

Over 30 years of retirement, Kocevar would collect as much as $3.29 million, according to a projection by Local Government Information Services (LGIS), which publishes South Cook News.

The projection assumes Kocevar received $69,240 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Kocevar will have already received $214,014 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

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