Former state school employee Burnett paid in $91K to teachers' pension fund, could collect $1.65M in retirement

By Local Labs News Service

Jul 1, 2018

Former state school employee Sheila Burnett, who retired in June 2018, saved $91,105 toward a pension over 25 years working for public schools, Teachers' Retirement System of the State of Illinois records show.

Over 30 years of retirement, Burnett would collect as much as $1.65 million, according to a projection by Local Government Information Services (LGIS), which publishes Kankakee Times.

The projection assumes Burnett received $34,718 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Burnett will have already received $107,311 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

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Herscher Community Unit School District 2 Board

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