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Sangamon Sun

Friday, April 19, 2024

Former state school employee Kalogeropoulos paid in $306K to teachers' pension fund, could collect $6.72M in retirement

Money759

Former state school employee Cynthia Kalogeropoulos, who retired in July 2016, saved $305,614 toward a pension over 46 years working for public schools, Teachers' Retirement System of the State of Illinois records show.

Over 30 years of retirement, Kalogeropoulos would collect as much as $6.72 million, according to a projection by Local Government Information Services (LGIS), which publishes Sangamon Sun.

The projection assumes Kalogeropoulos received $141,232 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Kalogeropoulos will have already received $436,534 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

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