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Peoria Standard

Thursday, November 28, 2024

Former state school employee Burr paid in $29K to teachers' pension fund, could collect $981K in retirement

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Former state school employee Angela Burr, who retired in October 2018, saved $28,841 toward a pension over 15 years working for public schools, Teachers' Retirement System of the State of Illinois records show.

Over 30 years of retirement, Burr would collect as much as $980,957, according to a projection by Local Government Information Services (LGIS), which publishes Peoria Standard.

The projection assumes Burr received $20,619 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 2 years of retirement, Burr will have already received $41,857 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

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