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Grundy Reporter

Friday, November 15, 2019

Former state school employee Kochman paid in $144K to teachers' pension fund, could collect $2.19M in retirement

Schools

By Local Labs News Service | Jun 1, 2018

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Former state school employee Cheryl Kochman, who retired in May 2018, saved $143,509 toward a pension over 24 years working for public schools, Teachers' Retirement System of the State of Illinois records show.

Over 30 years of retirement, Kochman would collect as much as $2.19 million, according to a projection by Local Government Information Services (LGIS), which publishes Grundy Reporter.

The projection assumes Kochman received $46,051 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 4 years of retirement, Kochman will have already received $192,662 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

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