Former state school employee Borstein paid in $15K to teachers' pension fund, could collect $749K in retirement

By Local Labs News Service

Feb 1, 2016

Former state school employee Susan Borstein, who retired in January 2016, saved $15,006 toward a pension over 8 years working for public schools, Teachers' Retirement System of the State of Illinois records show.

Over 30 years of retirement, Borstein would collect as much as $749,392, according to a projection by Local Government Information Services (LGIS), which publishes Metro East Sun.

The projection assumes Borstein received $15,751 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 1 years of retirement, Borstein will have already received $15,751 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

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Madison Community Unit School District 12

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