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Former state school employee Burkhead paid in $50K to teachers' pension fund, could collect $776K in retirement

Schools

By Rock Island Today Reports | Nov 1, 2017

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Former state school employee Elizabeth Burkhead, who retired in October 2017, saved $50,486 toward a pension over 13 years working for public schools, Teachers' Retirement System of the State of Illinois records show.

Over 30 years of retirement, Burkhead would collect as much as $775,717, according to a projection by Local Government Information Services (LGIS), which publishes Rock Island Today.

The projection assumes Burkhead received $16,305 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 4 years of retirement, Burkhead will have already received $68,214 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

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Moline Coal Valley Community Unit School District 40

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