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South Cook News

Friday, April 19, 2024

Former state school employee Vuckovich paid in $131K to teachers' pension fund, could collect $3.33M in retirement

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Former state school employee Heather Vuckovich, who retired in June 2016, saved $130,825 toward a pension over 42 years working for public schools, Teachers' Retirement System of the State of Illinois records show.

Over 30 years of retirement, Vuckovich would collect as much as $3.33 million, according to a projection by Local Government Information Services (LGIS), which publishes South Cook News.

The projection assumes Vuckovich received $69,966 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 2 years of retirement, Vuckovich will have already received $142,031 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

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