Former state school employee Kirchhofer paid in $97K to teachers' pension fund, could collect $1.41M in retirement

By East Central Reporter Reports

Sep 1, 2017

Former state school employee Steve Kirchhofer, who retired in August 2017, saved $97,475 toward a pension over 27 years working for public schools, Teachers' Retirement System of the State of Illinois records show.

Over 30 years of retirement, Kirchhofer would collect as much as $1.41 million, according to a projection by Local Government Information Services (LGIS), which publishes East Central Reporter.

The projection assumes Kirchhofer received $29,704 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 4 years of retirement, Kirchhofer will have already received $124,270 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

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Paris Union School District 95

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