Former state school employee Berger paid in $40K to teachers' pension fund, could collect $571K in retirement

By Local Labs News Service

Jul 1, 2017

Former state school employee Shirley Berger, who retired in June 2017, saved $40,324 toward a pension over 14 years working for public schools, Teachers' Retirement System of the State of Illinois records show.

Over 30 years of retirement, Berger would collect as much as $570,648, according to a projection by Local Government Information Services (LGIS), which publishes Lake County Gazette.

The projection assumes Berger received $11,994 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 4 years of retirement, Berger will have already received $50,180 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

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