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Rockford Sun

Wednesday, December 25, 2024

Former state school employee Schoepski paid in $172K to teachers' pension fund, could collect $3.43M in retirement

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Former state school employee James Schoepski, who retired in May 2017, saved $171,688 toward a pension over 35 years working for public schools, Teachers' Retirement System of the State of Illinois records show.

Over 30 years of retirement, Schoepski would collect as much as $3.43 million, according to a projection by Local Government Information Services (LGIS), which publishes Rockford Sun.

The projection assumes Schoepski received $72,129 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Schoepski will have already received $222,944 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

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