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Rockford Sun

Tuesday, April 15, 2025

Former state school employee Koyak paid in $111K to teachers' pension fund, could collect $2.13M in retirement

Money759

Former state school employee Alyce Koyak, who retired in May 2016, saved $110,629 toward a pension over 24 years working for public schools, Teachers' Retirement System of the State of Illinois records show.

Over 30 years of retirement, Koyak would collect as much as $2.13 million, according to a projection by Local Government Information Services (LGIS), which publishes Rockford Sun.

The projection assumes Koyak received $44,805 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Koyak will have already received $138,487 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

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