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South Cook News

Saturday, April 5, 2025

Former state school employee Koteff paid in $13K to teachers' pension fund, could collect $197K in retirement

Money 01

Former state school employee Steven Koteff, who retired in June 2016, saved $12,532 toward a pension over 2 years working for public schools, Teachers' Retirement System of the State of Illinois records show.

Over 30 years of retirement, Koteff would collect as much as $197,356, according to a projection by Local Government Information Services (LGIS), which publishes South Cook News.

The projection assumes Koteff received $4,148 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Koteff will have already received $12,820 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

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