Lake County Gazette

Lake County Gazette

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Former state school employee Buenning paid in $156K to teachers' pension fund, could collect $2.33M in retirement

Schools

By Local Labs News Service | Jul 1, 2016

Money 01

Former state school employee Elizabeth Buenning, who retired in June 2016, saved $156,016 toward a pension over 27 years working for public schools, Teachers' Retirement System of the State of Illinois records show.

Over 30 years of retirement, Buenning would collect as much as $2.33 million, according to a projection by Local Government Information Services (LGIS), which publishes Lake County Gazette.

The projection assumes Buenning received $48,974 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 4 years of retirement, Buenning will have already received $204,888 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

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Lake Zurich Community Unit School District 95

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