Former state school employee Berg paid in $253K to teachers' pension fund, could collect $5.92M in retirement

By Rock Island Today Reports

Aug 1, 2017

Former state school employee Thomas Berg, who retired in July 2017, saved $252,924 toward a pension over 34 years working for public schools, Teachers' Retirement System of the State of Illinois records show.

Over 30 years of retirement, Berg would collect as much as $5.92 million, according to a projection by Local Government Information Services (LGIS), which publishes Rock Island Today.

The projection assumes Berg received $124,530 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Berg will have already received $384,910 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

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Hampton School District 29

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