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Illinois Valley Times

Thursday, December 26, 2024

Former state school employee Burash paid in $54K to teachers' pension fund, could collect $822K in retirement

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Former state school employee Monica Burash, who retired in May 2017, saved $54,440 toward a pension over 13 years working for public schools, Teachers' Retirement System of the State of Illinois records show.

Over 30 years of retirement, Burash would collect as much as $822,108, according to a projection by Local Government Information Services (LGIS), which publishes Illinois Valley Times.

The projection assumes Burash received $17,280 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 4 years of retirement, Burash will have already received $72,292 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

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