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McLean County Times

Tuesday, April 16, 2024

Former state school employee Burger paid in $159K to teachers' pension fund, could collect $2.99M in retirement

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Former state school employee Carol Burger, who retired in May 2017, saved $159,411 toward a pension over 32 years working for public schools, Teachers' Retirement System of the State of Illinois records show.

Over 30 years of retirement, Burger would collect as much as $2.99 million, according to a projection by Local Government Information Services (LGIS), which publishes McLean County Times.

The projection assumes Burger received $62,879 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Burger will have already received $194,352 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

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