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Former state school employee Kokinis paid in $8K to teachers' pension fund, could collect $194K in retirement

Schools

By Local Labs News Service | Jul 1, 2016

Money 02

Former state school employee Dean Kokinis, who retired in June 2016, saved $8,031 toward a pension over 5 years working for public schools, Teachers' Retirement System of the State of Illinois records show.

Over 30 years of retirement, Kokinis would collect as much as $194,398, according to a projection by Local Government Information Services (LGIS), which publishes North Cook News.

The projection assumes Kokinis received $4,086 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 2 years of retirement, Kokinis will have already received $8,295 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

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Des Plaines Community Consolidated School District 62

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