Prairie State Wire

Prairie State Wire

Thursday, November 21, 2019

Former state school employee Burge paid in $66K to teachers' pension fund, could collect $938K in retirement


By Local Labs News Service | Apr 1, 2016

Shutterstock 113962678

Former state school employee Denise Burge, who retired in March 2016, saved $66,440 toward a pension over 14 years working for public schools, Teachers' Retirement System of the State of Illinois records show.

Over 30 years of retirement, Burge would collect as much as $938,219, according to a projection by Local Government Information Services (LGIS), which publishes Prairie State Wire.

The projection assumes Burge received $19,720 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 4 years of retirement, Burge will have already received $82,502 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

Want to get notified whenever we write about Illinois State Board of Education ?

Sign-up Next time we write about Illinois State Board of Education, we'll email you a link to the story. You may edit your settings or unsubscribe at any time.

Organizations in this Story

Illinois State Board of Education

More News