Former state school employee Barkhausen paid in $165K to teachers' pension fund, could collect $4.24M in retirement

By Local Labs News Service

Jul 1, 2016

Former state school employee Susan Barkhausen, who retired in June 2016, saved $164,581 toward a pension over 33 years working for public schools, Teachers' Retirement System of the State of Illinois records show.

Over 30 years of retirement, Barkhausen would collect as much as $4.24 million, according to a projection by Local Government Information Services (LGIS), which publishes Lake County Gazette.

The projection assumes Barkhausen received $89,117 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 2 years of retirement, Barkhausen will have already received $180,908 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

ORGANIZATIONS IN THIS STORY

Lake Forest School District 67

!RECEIVE ALERTS

The next time we write about any of these orgs, we’ll email you a link to the story. You may edit your settings or unsubscribe at any time.

Sign-up

DONATE

Help support the Metric Media Foundation's mission to restore community based news.

Donate