Quantcast

Illinois Valley Times

Friday, December 27, 2024

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

Shutterstock 225154648

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.

ORGANIZATIONS IN THIS STORY

!RECEIVE ALERTS

The next time we write about any of these orgs, we’ll email you a link to the story. You may edit your settings or unsubscribe at any time.
Sign-up

DONATE

Help support the Metric Media Foundation's mission to restore community based news.
Donate

MORE NEWS