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Illinois Valley Times

Tuesday, April 16, 2024

Princeton ESD 115 Kopp paid in $37K to teachers pension fund, could collect $1.8 million in retirement

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Retired Princeton ESD 115 employee Brent Kopp saved $37,039 toward his pension over 19 years working for public schools, Illinois Teachers' Retirement Fund (TRS) records show.

Over 35 years of retirement, Kopp would collect as much as $1.79 million, according to a projection by Local Government Information Services (LGIS), which publishes Illinois Valley Times.

Kopp, 60, who currently lives in Fort Myers, FL earned $39,696 in his final year at Princeton ESD 115.

The projection assumes Kopp will receive 69.9 percent of that total - $27,741 - in his first year of retirement, then 3 percent annual increases thereafter, compounded.

After three years of retirement, Kopp will have already received $85,744 in retirement benefits, or more than the sum total of his contributions to the state teachers' pension fund.

According to the Illinois State Board of Education (ISBE), 25.1 percent of Princeton ESD 115 students met or exceeded the standards for the "PARCC" exams.

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