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South Central Reporter

Saturday, November 23, 2024

Former state school employee Koertge paid in $106K to teachers' pension fund, could collect $2.14M in retirement

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Former state school employee Vickie Koertge, who retired in June 2016, saved $105,514 toward a pension over 34 years working for public schools, Teachers' Retirement System of the State of Illinois records show.

Over 30 years of retirement, Koertge would collect as much as $2.14 million, according to a projection by Local Government Information Services (LGIS), which publishes South Central Reporter.

The projection assumes Koertge received $44,954 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Koertge will have already received $138,949 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

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