Former state school employee Borgeson paid in $126K to teachers' pension fund, could collect $2.42M in retirement

By Rock Island Today Reports

Jul 1, 2016

Former state school employee Doris Borgeson, who retired in June 2016, saved $125,835 toward a pension over 28 years working for public schools, Teachers' Retirement System of the State of Illinois records show.

Over 30 years of retirement, Borgeson would collect as much as $2.42 million, according to a projection by Local Government Information Services (LGIS), which publishes Rock Island Today.

The projection assumes Borgeson received $50,775 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Borgeson will have already received $156,940 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

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Rock Island-Milan School District 41 Board

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