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DeKalb Times

Friday, November 22, 2024

Former state school employee Burise paid in $204K to teachers' pension fund, could collect $4.46M in retirement

Money836

Former state school employee Lynda Burise, who retired in May 2018, saved $204,093 toward a pension over 35 years working for public schools, Teachers' Retirement System of the State of Illinois records show.

Over 30 years of retirement, Burise would collect as much as $4.46 million, according to a projection by Local Government Information Services (LGIS), which publishes DeKalb Times.

The projection assumes Burise received $93,690 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Burise will have already received $289,587 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

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