Former state school employee Burnett paid in $166K to teachers' pension fund, could collect $3.61M in retirement

By Local Labs News Service

Jul 1, 2017

Former state school employee Lori Burnett, who retired in June 2017, saved $166,163 toward a pension over 35 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 $3.61 million, according to a projection by Local Government Information Services (LGIS), which publishes Chambana Sun.

The projection assumes Burnett received $75,821 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Burnett will have already received $234,356 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

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Danville Community Consolidated School District 118

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