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South Cook News

Tuesday, October 8, 2024

Former state school employee Buhner paid in $10K to teachers' pension fund, could collect $548K in retirement

Money 03

Former state school employee Ann Buhner, who retired in July 2017, saved $9,667 toward a pension over 8 years working for public schools, Teachers' Retirement System of the State of Illinois records show.

Over 30 years of retirement, Buhner would collect as much as $548,280, according to a projection by Local Government Information Services (LGIS), which publishes South Cook News.

The projection assumes Buhner received $11,524 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 1 years of retirement, Buhner will have already received $11,524 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

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