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Sangamon Sun

Monday, November 25, 2024

Former state school employee Kopp paid in $37K to teachers' pension fund, could collect $1.28M in retirement

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Former state school employee Brent Kopp, who retired in July 2018, saved $37,039 toward a pension over 20 years working for public schools, Teachers' Retirement System of the State of Illinois records show.

Over 30 years of retirement, Kopp would collect as much as $1.28 million, according to a projection by Local Government Information Services (LGIS), which publishes Sangamon Sun.

The projection assumes Kopp received $26,932 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 2 years of retirement, Kopp will have already received $54,672 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

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