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West Cook News

Monday, May 20, 2024

Former state school employee Eukovich paid in $130K to teachers' pension fund, could collect $2.68M in retirement

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Former state school employee Cynthia Eukovich, who retired in June 2016, saved $130,341 toward a pension over 30 years working for public schools, Teachers' Retirement System of the State of Illinois records show.

Over 30 years of retirement, Eukovich would collect as much as $2.68 million, according to a projection by Local Government Information Services (LGIS), which publishes West Cook News.

The projection assumes Eukovich received $56,280 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Eukovich will have already received $173,955 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

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