Waukegan CUSD 60 Roche paid in $128K to teachers pension fund, could collect $2.1 million in retirement
Over 23 years of retirement, Roche would collect as much as $2.054 million, according to a projection by Local Government Information Services (LGIS), which publishes Lake County Gazette.
Roche, 72, who currently lives in Island Lake earned $110,438 in her final year at Waukegan CUSD 60.
The projection assumes Roche will receive 50.9 percent of that total - $56,244 - in her first year of retirement, then 3 percent annual increases thereafter, compounded.
After three years of retirement, Roche will have already received $173,844 in retirement benefits, or more than the sum total of her contributions to the state teachers' pension fund.
According to the Illinois State Board of Education (ISBE), 14.7 percent of Waukegan CUSD 60 students met or exceeded the standards for the "PARCC" exams. ISBE reported that 23.5 percent of district's graduates were deemed "college ready" last year.