Former state school employee Buresh paid in $296K to teachers' pension fund, could collect $6.25M in retirement

By Rock Island Today Reports

Aug 1, 2017

Former state school employee Joe Buresh, who retired in July 2017, saved $296,083 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, Buresh would collect as much as $6.25 million, according to a projection by Local Government Information Services (LGIS), which publishes Rock Island Today.

The projection assumes Buresh received $131,309 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Buresh will have already received $405,862 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

ORGANIZATIONS IN THIS STORY

Annawan Community Unit School District 226

!RECEIVE ALERTS

The next time we write about any of these orgs, we’ll email you a link to the story. You may edit your settings or unsubscribe at any time.

Sign-up

DONATE

Help support the Metric Media Foundation's mission to restore community based news.

Donate