Former state school employee Kott paid in $118K to teachers' pension fund, could collect $3.18M in retirement

By Local Labs News Service

Jun 1, 2018

Former state school employee Connie Kott, who retired in May 2018, saved $118,052 toward a pension over 32 years working for public schools, Teachers' Retirement System of the State of Illinois records show.

Over 30 years of retirement, Kott would collect as much as $3.18 million, according to a projection by Local Government Information Services (LGIS), which publishes North Cook News.

The projection assumes Kott received $66,915 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 2 years of retirement, Kott will have already received $135,837 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

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Elgin Area School District U46

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